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International Business Times
International Business Times
Business
Marvie Basilan

RARE PHOTOS: Us treasury warns about crypto transaction concealment methods | Rare Historical Photos

A representation of cryptocurrency Monero is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. The U.S. Treasury Department mentioned Monero in its report as a cryptocurrency that obfuscates transaction history using cryptographic technologies. (Credit: Reuters / Dado Ruvic)

KEY POINTS

  • The use of obfuscation tools has made it difficult for law enforcement to trace illicit funds
  • There have been cases of virtual asset mixing being linked to stolen funds and ransomware strains
  • Quick transactions on chain hopping also pose a challenge to investigators

The U.S. Treasury Department on Wednesday released its 2024 National Money Laundering Risk Assessment report that highlighted the threats that the country faces in illicit finance, including concealment methods on virtual asset transactions.

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