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It’s Not Just Bitcoin That Has A Problem With Money Laundering

As is the general consensus, Bitcoin can supposedly make it easier for criminals and fraudsters to conduct illegal transactions. The amount of money laundered through Bitcoin is nothing in comparison to the multi-trillion dollar network of illegal transactions that pass through traditional banks on a yearly basis.

In a recent report published by the United Nations Office on Drugs and Crime, there are more than trillion dollars illegally transacted through the traditional banking system every year. In another recently published report, this time by Bloomberg called “The Cost of Dirty Money”, there are diagrams of the complex world of money laundering, featuring a web of banks, fines and prison sentences. In the report, there are several bad ‘actors’ listed some…

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