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Travel restrictions and lockdowns have forced changes to the traditional means illicit groups have used to launder their ill-gotten profits. This paper explores whether COVID-19 may have affected these processes through three main channels: increased reliance on cryptocurrencies to move and launder funds tied to illicit activity; the expanded use of the internet through e-commerce sites to continue and expand trade mispricing practices to move illicit funds; and the use of FinTech and peer-to-peer payment services to transfer illicit funds.
Florida International University
Inverarity, Calum; Price, Gareth; Rice, Courtney; and Sabatini, Christopher, "Contactless, Crypto, and Cash: Laundering Illicit Profits in the Age of COVID-19" (2021). Research Publications. 48.
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