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How Cybercriminals Are Operationalizing Money Laundering and What to Do About It

06
Feb
2023
How Cybercriminals Are Operationalizing Money Laundering and What to Do About It

image credit: pixabay

It’s almost impossible to pinpoint the amount of money that’s laundered globally, but conservative estimates put it at anywhere from $800 million to $2 trillion, according to the United Nations’ Office on Drug and Crimes — and that’s likely just the tip of the iceberg. It’s a crime that, in turn, fuels some of the world’s most heinous criminal activities. It’s also a tactic used by cybercriminals to help try to cover up the profits they’re making from things like wide-scale ransomware attacks. The rise of cryptocurrency also has made it easier for them to evade detection.

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