With cryptocurrency & Co. – European Commission plans alliance against money laundering

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In Austria, an average of 16 cases of money laundering are reported daily and the trend is increasing. The criminals often rely on cryptocurrencies such as Bitcoin. The Minister of the Interior is calling for more preventive work against cybercrime.

Money laundering from criminal activities and thus re-introducing the legal financial and economic cycle – a global problem for security authorities. On Monday and Tuesday, therefore, the Money Laundering Conference will take place for the seventh time, which is devoted to the largest legislative proposal on this subject ever drawn up by the European Commission. sectors to make it more difficult for organized crime to launder their money.

20 percent more reports than in the previous year
Illegal trade is also a major problem in Austria. The local money laundering agency (A-FIU) of the Federal Criminal Police Office registered exactly 5952 incoming files (plus 20 percent) last year. That is an average of 16 cases per day. As reported, many current events are related to cryptocurrencies. trend to increase further.

“The further development of our cybersecurity prevention strategy is therefore a priority,” said Interior Minister Gerhard Karner (ÖVP). In addition, there were a number of crypto voucher frauds in Austria in the past year. 85 people accused of money laundering were also convicted in national courts. Fraud was the most common precedent.

Source: Krone

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