via CRYPTO ATM
MONEY LAUNDERING
Your Legal & Financial Guide
02 Your Legal & Financial Guide
In many jurisdictions, cryptoasset ATMs remain unregulated – or of unclear regulatory status. This makes them an attractive target for criminals, who use ATMs to convert large amounts of cash into cryptoassets.
HOW DO THEY DO IT?
Proceeds of illegal activity Deposited in Crypto ATMs
Crypto sent to beneficiaries wallet Crypto converted into fiat on exchange Funds withdrawn in cash Cash deposited in criminal's bank account
05 Your Legal & Financial Guide
Criminals may also rely on mules to funnel illicit funds through cryptoasset ATM networks. The use of widespread and complex money mule networks can create added challenges of detection and prevention for cryptoasset ATM operators.
Your Legal & Financial Guide
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Adv. P. M. Mishra Lawyer & International Regulatory Expert