illicit financial flows

Vulnerability of Virtual Assets to Illicit Financial Flows

Over the last few years, virtual assets have become more widespread in the market, which has manifested itself both in the growth of transactions with them and in the rapid growth of the capitalization of the cryptocurrency market. The international community and individual governments have introduced regulations for the virtual asset market, but the degree of transparency remains low. This poses risks of using virtual assets as a tool for various schemes of money laundering or terrorist financing.