Anti-money laundering service, SmartSearch details the new ways money laundering is taking place in the digital age.
With the rapid advancements in mobile technology and internet accessibility, people can engage with financial institutions 24/7. In fact, 64% (YouGov) of Brits use their smartphone for online banking. This is altering Britain into a cashless society, with a rise in demand for real-time payments and transfers, which means the opportunity for cyberattacks and money laundering is ever more prevalent.
Demonstrating how new-age technology is becoming more of a threat, in a recent landmark case a LocalBitcoins seller was charged with money laundering and is facing up to 20 years in prison.
Read more
With the rapid advancements in mobile technology and internet accessibility, people can engage with financial institutions 24/7. In fact, 64% (YouGov) of Brits use their smartphone for online banking. This is altering Britain into a cashless society, with a rise in demand for real-time payments and transfers, which means the opportunity for cyberattacks and money laundering is ever more prevalent.
Demonstrating how new-age technology is becoming more of a threat, in a recent landmark case a LocalBitcoins seller was charged with money laundering and is facing up to 20 years in prison.
Read more
Why Cashless Economy means social exclusion
