Cryptocurrency News & Investigations

Keep up-to-date with the latest cryptocurrency news, industry insights and crypto investigations at IYE Global.

How criminals in Africa launder proceeds of crime through cryptocurrencyIYE Global

Money laundering in Africa through cryptocurrency

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Money laundering in Africa through cryptocurrency is an emerging concern, as the continent sees increasing adoption of digital currencies. Cryptocurrencies, due to their decentralised and often anonymous nature, offer potential avenues for laundering illicit funds, including proceeds from corruption, fraud, terrorism financing, and organised crime. Africa’s rapid embrace of digital finance, coupled with weak regulatory frameworks and widespread financial exclusion, makes it susceptible to this form of financial crime.

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KYC for CryptoIYE Global

Why KYC for Crypto Exchanges falls short in exposing criminal or fraudulent accounts

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KYC for Crypto is a series of checks performed by exchanges to verify customer identity and to assess account holder risk. This process of due diligence helps safeguard against exchanges being used by criminal entities for money laundering and other illegal activities.

Without an industry-standard set of checks to conduct, or even a globally accepted definition of KYC, this article explores the challenges faced by exchanges in conducting consistent and appropriate levels of risk assessment to expose criminal activities and to avoid regulatory scrutiny.

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