RATE Group | Cryptocurrency Still a Minute Portion of Money Laundering Crimes, Says Police in Japan •…
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Cryptocurrency Still a Minute Portion of Money Laundering Crimes, Says Police in Japan •…

07 Dec Cryptocurrency Still a Minute Portion of Money Laundering Crimes, Says Police in Japan •…

Posted at 02:28h in Cryptocurrency News by

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Law enforcement in Japan says cryptocurrency money laundering constitutes only a minor portion of the total cases of money laundering in the country. This assertion comes even as police authorities say instances of virtual currency-related money laundering are on the rise.

Two Percent

According to the Japan Times, the country’s National Police Agency (NPA) announced on Thursday (December 6, 2018) that it received about 6,000 cases of cryptocurrency-related money laundering crimes between January and October 2018.

While the number appears significant, the NPA says it pales in comparison to the total number of all non-crypto related cases. According to the report issued by the NPA, there were more than 340,000 cases of money laundering across the nation’s financial sector during the period under review.

Based on these figures, crypto-related money laundering accounted for only two percent of such crimes reported to police authorities. This revelation is yet another example of how…

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