JAKARTA The money laundering case using crypto assets has attracted the attention of the United Nations (UN). The international organization, which was formed on October 24, 1945, revealed the latest data related to money laundering cases, especially in the Asian region.
The UN report explained that USDT stablecoin money laundering activities in Asia have increased. According to a report released by the UN Narcotics and Crime Unit, this stablecoin has become a favorite tool for criminals in Southeast Asia to launch fraudulent acts and money laundering.
The report highlights money laundering syndicates operating in Myanmar and Cambodia, which use USDT as a means to exchange illegal funds for cash. In addition, illegal online gambling platforms in the region also facilitate money laundering transactions using USDT.
Jeremy Douglas, an executive at the United Nations, stated that the emergence of crypto technology has created an alternative banking system used by criminals in Southeast Asia.
SEE ALSO:
- https://voi.id/teknologi/346874/jadi-korban-penipuan-kripto-di-telegram-insinyur-ini-harus-kehilangan-rp237-juta
- https://voi.id/berita/346937/bekuk-pencuri-uang-kripto-beraset-rp5-1-miliar-polda-riau-telusur-pelaku-lain
- https://voi.id/teknologi/345761/bos-bursa-kripto-ini-ditangkap-polisi-setelah-jual-cryptocurrency-palsu-di-exchanger
Tether's Efforts
Although its stablecoins are used in criminal acts, Tether as the USDT issuer, has taken proactive steps to combat illegal activities. Last year, Tether teamed up with US authorities and the OKX crypto exchange to freeze USDT tokens worth $225 million related to illegal activities.
Tether has also sent a letter to the US Senate Committee and the US Representative House Financial Services Committee, affirming its commitment to countering illegal activities in the digital asset space.
The company has implemented an analysis device from Chainalysis and established a Compliance Department with an anti-money laundering (APU) program and identified (KYC) to analyze transactions and prevent terrorist group funding.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
