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Billion-dollar money laundering case: Two sides to using blockchain technology, crypto
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A blockchain may be appealing to criminals but it also offers financial institutions and crypto players new tools to manage money laundering risks.
PHOTO ILLUSTRATION: PIXABAY
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SINGAPORE – Digital assets and blockchain technology may offer many tools for criminals to conceal the funnelling of illicit gains, but they also allow the authorities to better track such fund flows compared with conventional money laundering means, market players said.
This is because a public blockchain, on which digital assets like cryptocurrencies and tokens are transacted, works like a public ledger.
