In brief
- Germany’s FIU revealed that anti-money laundering reports involving crypto are up 8.2% year-on-year.
- The FIU said that cryptocurrencies have become a key component of international money laundering structures.
- AI-powered detection tools could enable financial institutions and regulators to better identify illicit activity, experts told Decrypt.
Anti-money laundering reports involving cryptocurrencies rose by 8.2% in Germany last year, according to the annual report from the German Financial Intelligence Unit (FIU).
Total crypto-related reports climbed from 8,049 in 2023 to hit 8,711, accounting for a record 3.3% of all suspicious activity reports (SARs) submitted to the FIU, the agency responsible in Germany for combating…
