Countering virtual currency money laundering

Countering virtual currency money laundering

The risks, regulatory landscape, and long term sustainability of the virtual currency industry come under the spotlight in our Fighting Fraud series.


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In April 2013, Fighting Fraud reported on how the virtual currency industry has been under increased scrutiny. Virtual currencies have been around for many years, but recent industry evolutions through the rise of Bitcoin and other forums have created a growing regulation gap. The jury is still out on whether virtual currencies present a major money laundering threat, but there is growing evidence that they do.

This paper considers the types of virtual currencies that exist, the regulatory landscape and the extent of the industry’s money laundering risks. It also looks at the long-term sustainability of the virtual currency industry. 

The full report can be accessed here (PDF 612 KB).

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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