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  • Crypto Laundering Methods - P2P Platforms: Based On Elliptic Typologies Report 2022

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    Fernando
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    The document describes a money laundering method using peer-to-peer (P2P) cryptocurrency exchanges. A drug dealer transfers cash to a P2P exchange vendor in a consumer country, who deposits crypto into the criminal enterprise's P2P wallet. An equal amount is then sent from the criminal's wallet to a second P2P broker in a source country. The broker may cash out the crypto and transfer the funds to personal bank accounts in the source country. This method allows criminals to launder drug money across international borders using cryptocurrency exchanges.

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    The document describes a money laundering method using peer-to-peer (P2P) cryptocurrency exchanges. A drug dealer transfers cash to a P2P exchange vendor in a consumer country, who deposits crypto into the criminal enterprise's P2P wallet. An equal amount is then sent from the criminal's wallet to a second P2P broker in a source country. The broker may cash out the crypto and transfer the funds to personal bank accounts in the source country. This method allows criminals to launder drug money across international borders using cryptocurrency exchanges.

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    23 views9 pages

    Crypto Laundering Methods - P2P Platforms: Based On Elliptic Typologies Report 2022

    Uploaded by

    Fernando
    The document describes a money laundering method using peer-to-peer (P2P) cryptocurrency exchanges. A drug dealer transfers cash to a P2P exchange vendor in a consumer country, who deposits crypto into the criminal enterprise's P2P wallet. An equal amount is then sent from the criminal's wallet to a second P2P broker in a source country. The broker may cash out the crypto and transfer the funds to personal bank accounts in the source country. This method allows criminals to launder drug money across international borders using cryptocurrency exchanges.

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    Crypto
    Laundering
    methods -
    P2P Platforms
    Based on Elliptic Typologies Report 2022
    Typology on money
    laundering through
    P2P Platforms:
    A street drug dealer in
    Europe makes fiat bank
    transfers or provides fiat
    cash to a P2P exchange
    vendor in a narcontic
    consumer country i.e. Spain
    The P2P exchange
    vendor deposits a large
    volume of cryptoassets
    into the P2P exchange
    wallet of the criminal
    enterprise.
    An equal amount of
    cryptoasset is sent from
    the criminal's P2P
    exchange wallet to a
    second P2P exchange
    broker in a source country
    for narcotics i.e. Colombia
    on the same day
    The P2P exchange
    vendor may then send
    the illicit cryptoasset to
    an exchange where they
    cash out and eventually
    transfer funds to their
    personal bank account
    The P2P exchange
    vendor transfers the fiat
    currency to numerous
    bank accounts located
    in the narcotics source
    country.
    Based on the
    Elliptic Typologies
    Report 2022

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