According to a recent report of the joint group of analyst of the project defenddemocracy.org and specialists Ellicit specializing in crimes related to cryptocurrencies, less than one percent of all transactions in bitcoin is associated with money laundering.
The purpose of this report was the analysis of the flow of money in bitcoins and opportunities for money laundering, since it is known that this is one of the favorite arguments of the critics of cryptocurrencies. In the result, analysts found out that bitcoin is almost never used for money laundering:
The amount of bitcoin used for money laundering is extremely small. The sources of this money are mostly darknet marketplaces like the Silk Road, and later AlphaBay.
The report also indicates that the vast majority of illegal transactions using bitcoins have been registered in Europe, where such transaction was five times more than in North America.
Procedures counteracting money laundering must be improved
The report States that the best way to combat this illegal trade – more stringent measures to combat money laundering and coordinated work of financial bodies in all countries.