The Organized Crime and Corruption Reporting Project (OCCRP), a non-profit media organization, published a set of reports this week detailing a complex money laundering scheme taking place in Russia. Its executive Director Paul Radu elaborated: “Among the counterparties on these transactions were major Western banks. The dozens of companies in the system also generated $8.8 billion of internal transactions to obscure the origin of the cash.”
The post OCCRP Reports $8.8 Bn Money Laundering Scheme By Major Banks appeared first on Incrypts.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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