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Abstract

Increases in technology have created new, modern methods of money laundering. One of these methods is using cryptocurrencies. Money launderers use cryptocurrencies to convert their proceeds of crime into digital assets to obscure their illicit funds and avoid detection. Law enforcement and regulatory bodies lack an understanding of money laundering via cryptocurrencies. Subsequently, their efforts in combatting the crime have been ineffective. To improve the regulatory response to crypto-laundering, it is important to first understand how cryptocurrencies facilitate money laundering within the digital economy. By conducting a literature review, this dissertation provides such an understanding by analysing the available literature regarding the characteristics and related technological tools of cryptocurrencies that aid their use for money laundering purposes. This dissertation found decentralisation, pseudonymity, and anonymity to be the characteristics of cryptocurrencies that facilitate their use in money laundering. Additionally, mixing services were found to be a technological tool that provided further aid. Upon analysing all three characteristics as well as mixing services, decentralisation was found to be the most important aspect of cryptocurrencies that aids their use for money laundering purposes.

Course: Criminology and Criminal Justice - BSc - UP586PYC

Date Deposited: 2024-11-11

URI/permalink: https://library.port.ac.uk/dissert/dis14502.html