Investigation of money laundering methods through cryptocurrency

Summary

The main issue of this work is to search of suspicious operations that were made with the use of cryptocurrency. The set tasks: creation of a database from received information; visualization of received results; analysis and conclusions of received results. The object of the research is money laundering and financing terrorism by means of cryptocurrency. Nowadays it is an actual term for research as for countries cryptocurrency is a new way of payments and each country decides differently how to deal with it. But new technologies provide us new possibilities in our live (especially in anonymous transactions as payments for goods and other purposes) and of course they can be used in illegal activity such as money laundering and financing of terrorism. Besides anonymity is one of the main features of cryptocurrency that helps to hide the source of income. This is the problem for countries because they have to combat such a threat as money laundering and financing of terrorism. So it is natural to find out ways of searching suspicious operations that can be directed to money laundering and financing of terrorism.

Sat, D. M., Krylov, G. O., Evgenyevich, K., Kasatkin, A. B., & Kornev, I. A. (2016). Investigation of money laundering methods through cryptocurrency. Journal of Theoretical and Applied Information Technology, 83(2), 244.

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