Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

Compliance News, Crypto, Cyber

Cryptocurrency crimes may have hit a slump in 2020, but one kind of crypto crime saw a 300% increase as the pandemic raged on. And it’s here to stay.

Ransomware might have accounted for only 7% or $350M of all funds received by criminal addresses — but that’s a 311% increase over 2019.

By Vish Gain for AMLi

As a silver lining of sorts, 2020 was a surprisingly good year for regulators of cryptocurrency-related crimes as the fraction of illicit funds fell to less than a third of the previous year. But one kind of crypto crime in particular saw a dramatic rise, prompting experts to reconsider priorities for the year ahead.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!