United Kingdom

Details

  • Service: Advisory, Risk Consulting
  • Type: Business and industry issue
  • Date: 14/01/2014

Countering virtual currency money laundering 

In April 2013, Fighting Fraud reported on how the virtual currency industry has been under increased scrutiny. Virtual currencies have been around for many years, but recent industry evolutions through the rise of Bitcoin and other forums have created a growing regulation gap. The jury is still out on whether virtual currencies present a major money laundering threat, but there is growing evidence that they do.

This paper considers the types of virtual currencies that exist, the regulatory landscape and the extent of the industry’s money laundering risks. It also looks at the long-term sustainability of the virtual currency industry.

 

The full report can be accessed here (PDF 612 KB).

 

 

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Contact

Brian Dilley

Brian Dilley

Global Head of Anti Money Laundering Services

KPMG in the UK

020 7896 4843

brian.dilley@kpmg.co.uk

Neal Dawson

Neal Dawson

UK Head of AML and Sanctions

KPMG in the UK

020 7694 5552

neal.dawson@kpmg.co.uk