‘The use of bitcoin to launder money is increasing, in particular among drug gangs such as the Jalisco New Generation Cartel and the Sinaloa Cartel,’ the report said. — Bloomberg
MEXICO CITY: Drug cartels in Mexico and Colombia are increasingly using cryptocurrencies such as bitcoin to launder money, the UN-linked International Narcotics Control Board (INCB) said on March 10.
Mexican cartels are estimated to launder US$25bil (RM104.82bil) a year in Mexico alone, the board’s annual report said, describing them “as among the richest and most powerful organised criminal groups” in the world.
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