Overview
Forbes quoted Jason Weinstein in a December 4 article titled "Crypto's Valachi Papers." The article discusses how the underworld of bitcoin and other cryptocurrencies has its own Valachi papers, detailing how criminals laundered a record $3.7 billion so far this year. The report, which details 86 indicators of suspicious activity, or patterns of transactions on the blockchain, has been slowly making the rounds among law enforcement and regulators since it was published two months ago.
Weinstein, former US Department of Justice deputy assistant attorney general, says: "This report is a road map for the kind of things that virtual asset companies look for in trying to identify and faithfully detect suspicious activity. And so if you're a bad actor and you have access to this road map, you can use it for the wrong purposes."
The full article can be read at Forbes.
