Kenneth Rijock

Kenneth Rijock

Thursday, May 10, 2012

VIRTUAL CURRENCY WORRIES FBI



The Federal Bureau of Investigation, in an unclassified, but nonpublic, Intelligence Assessment, warns that the digital currency known as Bitcoin represents a dangerous technological advance, regarding the inability of law enforcement to identify individuals moving virtual currency online.

The Assessment, Bitcoin Virtual Currency: Unique Features present unique Challenges for deterring Illicit Activity*, concludes that Bitcoin is a convenient and untraceable digital currency. The white paper, which was prepared by the Cyber intelligence Section of the FBI Directorate of Intelligence, apparently was not released to the public, because it examines the strengths of this digital currency. It was obtained by the Internet magazine Wired, which posted it to the Web.



The Assessment offers a detailed analysis of the threats posed by virtual currency, including the facilitation of money laundering. Is it the shape of things to come ?


Note to readers: businesses that accept Bitcoin generally post a sign that shows a capital "B" with what look like quotations marks above and below.
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Access the document here


1 comment:

  1. A currency translation as used of 3g technology like internet though as called Virtual Currency.There are creating new low as about Virtual Currency as in maintain and secure.

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