A Review on Cryptocurrency Transaction Methods for Money Laundering

Hugo Almeida, Hugo Almeida, Pedro Pinto, Pedro Pinto, Pedro Pinto, Ana Fernández Vilas

2023

Abstract

Cryptocurrencies are considered relevant assets and they are currently used as an investment or to carry out transactions. However, specific characteristics commonly associated with the cryptocurrencies such as irreversibility, immutability, decentralized architecture, absence of control authority, mobility, and pseudo-anonymity make them appealing for money laundering activities. Thus, the collection and characterization of current cryptocurrency-based methods used for money laundering are paramount to understanding the circulation flows of physical and digital money and preventing this illegal activity. In this paper, a collection of cryptocurrency transaction methods is presented and distributed through the money laundering life cycle. Each method is analyzed and classified according to the phase of money laundering it corresponds to. The result of this article may in the future help design efficient strategies to prevent illegal money laundering activities.

Paper Citation

in Harvard Style

Almeida H., Pinto P. and Fernández Vilas A. (2023). A Review on Cryptocurrency Transaction Methods for Money Laundering. In Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB, ISBN 978-989-758-646-0, SciTePress, pages 114-121. DOI: 10.5220/0011993300003494

in Bibtex Style

@conference{femib23,
author={Hugo Almeida and Pedro Pinto and Ana Fernández Vilas},
title={A Review on Cryptocurrency Transaction Methods for Money Laundering},
booktitle={Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB,},
year={2023},
pages={114-121},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011993300003494},
isbn={978-989-758-646-0},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 5th International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB,
TI - A Review on Cryptocurrency Transaction Methods for Money Laundering
SN - 978-989-758-646-0
AU - Almeida H.
AU - Pinto P.
AU - Fernández Vilas A.
PY - 2023
SP - 114
EP - 121
DO - 10.5220/0011993300003494
PB - SciTePress