Overview

This presentation will discuss a money laundering scheme by which money launders use cryptocurrencies (CRYPTO) to conceal the movement of illicit proceeds through U.S. financial institutions. These CRYPTO brokers facilitate the movement of large amounts of cash for CRYPTO without documenting the origin of funds, therefore enabling internationally based narcotrafficking organizations to avoid reporting requirements, anti-structuring laws associated with the regulated banking industry and aiding the movement of their illicitly obtained proceeds into financial institutions without detection.

Additionally, the presentation will also show how U.S financial institutions, the process of creating/obtaining LLCs (Limited Liability Companies), and crypto exchange platforms get exploited in this money laundering scheme.