Security News > 2018 > March > Cybercriminals launder money through mansions, private islands and crypto currency

Cybercriminal proceeds make up an estimated 8-10 percent of total illegal profits laundered globally, amounting to an estimated $80-$200 billion each year, according to a nine-month academic study by Dr. Mike McGuire, Senior Lecturer in Criminology at Surrey University. Key research findings Virtual currencies have become the primary tool used by cybercriminals for money laundering Cybercriminals are moving away from Bitcoin to less recognized virtual currencies, like Monero, that provide greater anonymity In-game purchases and … More → The post Cybercriminals launder money through mansions, private islands and crypto currency appeared first on Help Net Security.

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