Agencies Probing Cases Of Money Laundering Through Cryptocurrency: Minister
NDTV
Government has said that law enforcement agencies have received reports of cyber criminals using cryptocurrency for money laundering activities
Government has said that law enforcement agencies have received reports of cyber criminals using cryptocurrency for money laundering activities.
Minister of state for finance Pankaj Chaudhary recently informed Lok Sabha that the Directorate of Enforcement (ED) is investigating seven cases under the Prevention of Money Laundering Act 2002 (PMLA), in which cryptocurrency has been used for money laundering.
“Cases investigated by ED under the Act, reveal that (the) accused have laundered Proceeds of Crime (PoC) through cryptocurrency,” the minister informed Lok Sabha while replying to a question on whether the government is aware of the use of cryptocurrency for money laundering by cyber criminals.
