Latin American cartels turn to cryptocurrencies for money laundering
Illicit use of digital currencies is increasing and tracking criminals’ use of bitcoin is difficult
08 December 2020 - 16:50
Mexico City — In April 2019, Mexican police arrested suspected human trafficker Ignacio Santoyo in a plush area of the Caribbean resort of Playa del Carmen after linking him to a prostitution racket extending across Latin America.
Yet it was not the 2,000 women Santoyo is alleged to have blackmailed and sexually exploited that ultimately led to his capture, but the bitcoin he is suspected of using to help launder the proceeds of his operations, officials said...
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