Virtual ATMs Are Increasingly Used To Launder Money, DEA Says

Virtual ATMs Are Increasingly Used To Launder Money, DEA Says

Drug traffickers were increasingly reliant on cryptocurrency-based transactions and technology in 2020 – in part because of the COVID-19 pandemic, according to a new report of the Strategic Intelligence Section of the Drug Enforcement Administration.

According to the agency’s findings in the National Drug Threat Assessment 2020, published on March 2, the pandemic has interrupted cross-border shipments, particularly between the United States and Mexico, leading to large sums of money. money stranded in the United States that had yet to be paid to international drug dealers. Crypto ATMs offered a way for money to cross borders without the couriers having to physically transport it, according to the report.

The DEA document does not offer any statistics or figures on cryptocurrency-related crime for the past year, but says: …

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