13
Mar 2020
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California courts have sentenced a man for planning to sell drugs via dark web
markets for cryptocurrencies.
Prepurtator was detected using advanced anti money laundering checks and he was using a number of marketplaces like AlphaBay, Trade Route, Abraxas, Evolution, Outlaw Market, and Dream Market to sell the drugs that was reported by the Department of Justice announcement in AUG 2019.
After that a lot of different kinds of drugs were seized in house on raid he was in essence riesling drugs he would buy whon one drug dealer on dark net and sell to others but as he missed advanced protection he was detected in time he was logged into the system. Source of this scam leads to traders in China.
As he was found guilty in a way to reduce the sentence we decided to give all of his crypto assets to the government and this helps in detecting many of money laundering schemes that are taking place over darknet that policemens weren't aware of.
Because he was so cooperative he was given 6 years prison sentence for the drugs charges and for laundering drug proceeds using digital currencies.
Events like this are showing that regulations that are being set in place are making life more complicated for criminals and that they are giving positive results.
We can be sure that systems like ours are a thing of the future and that time of digital compliance and advanced transactions checking is coming. FATF and Travel Rules will make life much harder for professional money launderers which were profiting in last years without any crypto AML regulations. These rules that are set in place will make criminal groups much easier to follow and reduce their profits. We know that whis is effective as we see that money laundering arescred and are migrating to jurisdictions with weak AML policy.
Stay tuned!
Aleksandar JELIC