International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 6 Issue 6 November-December 2024 Submit your research before last 3 days of December to publish your research paper in the issue of November-December.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 6 Issue 6
November-December 2024

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Anonymity Unmasked The Role of Cryptocurrencies in Global Money Laundering

Author(s) Srushti Mantri
Country India
Abstract This research paper examines the intersection of cryptocurrencies and financial crime, particularly focusing on money laundering. It examines how these digital assets are employed in illicit financial activities, investigates the methodologies used to obscure transaction trails, evaluates regulatory responses to these risks, and presents practical case studies highlighting the real-world criminal use of cryptocurrency. The study, covering data from 2020 to 2024, combines a thorough review of existing literature with empirical analysis of blockchain transactions and case studies.
The novelty of this study is the use of blockchain analysis methods for monitoring cryptocurrency transactions in the blockchain and detecting criminal money laundering techniques. It also examines how the criminals use mixers to exponentially expand the transaction trail and hide the money flow.
Our analysis reveals that cryptocurrencies are often viewed as tools for anonymity but the underlying technology provides tracking of transactions, albeit with challenges, particularly when advanced techniques such as coin mixers, privacy coins, and decentralized exchanges are used. Case studies, including high-profile hacks, highlight the complexities of tracing illicit funds and challenges faced by law enforcement agencies. Despite efforts by global regulatory bodies, regulations on digital assets vary significantly around the world, allowing criminals to exploit jurisdictions with lax regulations for their illicit activities.
The study concludes that cryptocurrencies pose notable risks of money laundering, advancement in digital forensic tools, enhanced regulatory measures, and greater international cooperation are essential to address these risks. This research contributes to the understanding of money laundering through cryptocurrencies and underscores the need for continuous improvement of regulation and technology to ensure finance remains safe in the age of innovation.
Keywords Cryptocurrency, Money Laundering, Blockchain, Financial Crimes, Digital Forensics, Cryptocurrency Tracking
Field Sociology > Banking / Finance
Published In Volume 6, Issue 5, September-October 2024
Published On 2024-10-27
Cite This Anonymity Unmasked The Role of Cryptocurrencies in Global Money Laundering - Srushti Mantri - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.29404
DOI https://doi.org/10.36948/ijfmr.2024.v06i05.29404
Short DOI https://doi.org/g8pnkd
View / Download PDF File

Share this



E-ISSN 2582-2160
CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 6 Isu 6Cover Page Vol 6 Isu 5Cover Page Vol 6 Isu 4

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9898-5948-55 editor@ijfmr.com