In the first five months of 2020, crypto thefts, hacks, and frauds totaled $1.36 billion, suggesting 2020 could see the second-highest value in crypto crimes ever recorded. In a trend that continues from last year, fraud and misappropriation still make up most of the year’s stolen crypto compared to hacks and thefts. Of the $1.36 billion stolen, fraud and misappropriation account for 98% of the total value—nearly $1.3 billion.
On the regulatory front, CipherTrace data revealed 74% of the bitcoin that moved in exchange-to-exchange transactions was cross-border. The abundance of cross-border transactions highlights the need for exchanges to adopt appropriate cross-border controls to ensure AML and CTF compliance.
In this report from CipherTrace, read insights about major trends, enforcement actions and recent scams and how to address cryptocurrency money laundering.
In this report from CipherTrace, read insights about major trends, enforcement actions and recent scams and how to address cryptocurrency money laundering.
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Copyright © 2021 Actimize Ltd. All rights reserved.
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumer and investor assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading.
Copyright © 2021 Actimize Ltd. All rights reserved.
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