According to a new report, up to $5 trillion is laundered annually worldwide, with traditional financial systems still playing the dominant role in these criminal activities. Despite concerns about cryptocurrencies facilitating money laundering, their share in global money laundering remains minimal, accounting for only 0.47% (approximately $23.8 billion in 2022). The amount of cryptocurrency-linked money laundering has recently declined. In contrast, traditional methods such as banking and real estate are responsible for hundreds of billions of dollars in money laundering worldwide. The report argues that focusing solely on cryptocurrencies as a money-laundering tool does not provide the full picture and emphasizes the need for broader anti-money laundering strategies.
Source: cryptoslate.com
