Cyberlaundering funds terror and floods internet with fake transactions

Digital laundering is expected to double by 2020 with rise of cashless society and UN anti-crime chief says it must be tackled“We all have a stake in stopping cybercrime, which also enables so many other crimes, from human trafficking and migrant smuggling to trafficking in drugs, illicit firearms and wildlife, and money laundering,” said Yury Fedotov, the director general at the United Nation’s Office on Drugs and Crime, this week.States are meeting this week at the UNODC in Geneva to discuss criminal justice responses to prevent and counter cybercrime, which uses new technologies to generate some $1.5tn in revenue per year, with a rapidly increasing amount laundered via equally cutting-edge digital methods that often avoid detection. Continue reading......

2 Published By - Theguardian.com - Latest UK news and comment - 2018.05.17. 08:00
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