Cryptocurrency and Money Laundering
Cryptocurrencies, while enabling innovation in digital finance, have introduced new vectors for money laundering and terror financing due to their pseudo-anonymous, borderless nature. Indian agencies increasingly flag crypto misuse in fraud, ransomware, and illicit cross-border transfers.
Emerging Technological Challenges
- Pseudonymity and Layering: Wallet addresses obscure identities; use of mixers/tumblers enables complex layering of funds, hindering traceability.
- Privacy Coins and Decentralised Finance (DeFi): Assets like Monero/Zcash and decentralised exchanges (DEXs) reduce KYC controls, complicating enforcement.
- Ransomware and Crypto Payments: Incidents (e.g., healthcare sector disruptions) involve ransom demands in cryptocurrency, facilitating quick cross-border transfers.
Security Implications
- Terror Financing Risk: Small-value, distributed ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 UAVs Threat: Attacks on Military Installations
- 2 Satellite Warfare and GPS Spoofing: Risks to Navigation and Defence
- 3 Space Governance and Global Norms: India’s Role in a Treaty-Less Domain
- 4 Legal Gaps in Emerging Security Threats: Need for Updated Frameworks
- 5 National Security Strategy: Imperative for Integrated and Coordinated Security Architecture
- 6 IT Intermediary Rules as Security Framework: Regulation of Digital Platforms
- 7 Encrypted Communication and Security: Traceability vs Privacy Concerns
- 8 Social Media and Misinformation: Role in Communal Tensions
- 9 Wildlife and Resource Smuggling
- 10 Human Trafficking and Terror Recruitment
