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Further Discussions => Banks & Cryptos => Topic started by: Lenipiw on September 10, 2020, 06:30:40 PM

Title: Banks failing to identify up to 90% of suspicious crypto transactions
Post by: Lenipiw on September 10, 2020, 06:30:40 PM

CipherTrace believes financial institutions are failing to identify up to 90% of suspicious transactions related to crypto assets. Financial institutions worldwide have reported 134,500 suspicious transactions concerning virtual currencies in the past two years — but that’s just the tip of the iceberg according to a report published by blockchain forensics firm CipherTrace.

The report says the Financial Crimes Enforcement Network (FinCEN) has seen a major increase in suspicious transaction reports from institutions since publishing its May 2019 Advisory on Illicit Activity Involving Convertible Virtual Currency (CVC).
Visit here: https://cointelegraph.com/news/banks-failing-to-identify-up-to-90-of-suspicious-crypto-transactions