Kenneth Rijock

Kenneth Rijock

Saturday, June 1, 2019

ARE CREDIT CARD ISSUERS ASSISTING CRYPTOCURRENCY MONEY LAUNDERING ?



When the big credit/debit/prepaid card companies facilitate the conversion of cryptocurrency into dollars, somewhere in a luxury suite, money launderers are celebrating. Crypto, by definition, is outside the regulated financial structure; if you allow dirty money, presently in the form of cryptocurrency, to be converted into dollars, in an existing bank account, the money laundering possibilities are infinite.

Please, VISA, MASTERCARD, DISCOVER, and all the smaller card issuers, do not allow holders of crypto to use your products to move the proceeds of crime through the world's banking system. It will only result in massive regulatory civil fines & penalties against those banks who are found to have laundered dirty money into the global financial structure.

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