Germany Warns Of Privacy Token Usage In Money Laundering And Terrorism

Updated : 2019-10-23T10:30:28

According to Cointelegraph, the German Federal Ministry of Finance has expressed concerns about rising use of privacy tokens due to their association with criminal activities and difficulties in tracking them.

Published on Oct 19, the ministry’s "First Money Laundering and Terrorist Financing National Risk Assessment" for 2018-2019 provided analysis aimed at the identification of existing and future risks in the field of anti-money laundering (AML) and terrorism financing (TF) in Germany. Among other challenges, the report examines circulation of cryptocurrencies in the darknet for criminal purposes.