A report released by SWIFT revealed that the rate at which criminals use crypto for money laundering is low compared to other traditional means.
Despite the common notion that crypto assets are great options for acquiring funds illegally, money laundering issues using crypto are limited. SWIFT stated in a report that money laundering continues to be a menace for several economies in the world. A UN report also stated that close to 5% of the global GDP is laundered through fiat means every year. However, crypto cases remain very limited. SWIFT explained that while digital currency represents just fewer money laundering cases, they usually involve massive funds.
