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The report, “Detecting and Reporting the Illicit Financial Flows Tied to Organized Theft Groups and Organized Retail Crime,” highlights red flags associated with organized theft groups.
Finding and following trails of money as it flows through legal and illegal channels is critical to identify the network, build the case, and ultimately dismantle the ORC operation.
Kevin McMenimen speaks with Senior Director of Anti-Money Laundering Lauren Kohr and Project Coordinator and Researcher Tiffany Polyak with the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Many online retailers accept cryptocurrency as a form of payment, and even brick-and-mortar stores and restaurants advertise that they accept cryptocurrency. But despite its widespread popularity, cryptocurrency has almost no regulation.
It will take time for traditional industries like retail to weigh the benefits and challenges of cryptocurrency. In the end, if retailers want to win over the 7.1 million active bitcoin users, they will have to take steps on their own to accommodate these consumers.