There is always fiat the problem of money laundering
Mastercard Exec Reportedly Linked to Suspect Transactions at Cyprus Bank
Since the beginning of Bitcoin people couldn't help to stop it, it is always a shit storm in the news. One guy in a million does something wrong and a shit storm coming up saying Bitcoin is always in illegal activities :) But the real problem you see in Deutsche Bank, Cypros Bank, Dansk Bank and many more. The laundery of money is still a bankers game !
Controversial German payments processor Wirecard — the issuer of several crypto debit cards — has been implicated in a new report on alleged criminal activities by a Mastercard executive operating at the troubled FBME bank in Cyprus.
In 2014, the United States’ Financial Crime Enforcement Network had banned U.S. financial institutions from dealing with FBME after the bank was accused of being used to “facilitate money laundering, terrorist financing, transnational organized crime, fraud, sanctions evasion and other illicit activity.”
The allegations included facilitiating the processing of money tied to the Syrian chemical weapons’ program and internet child sex abuse, according to a July 27 report from The Times. In the latest chapter of the saga at FBME, an unnamed Mastercard executive has been accused by private investigators of a money laundering cover-up using a system of “phantom transactions” designed to thwart detection by Visa and Mastercard’s anti-fraud and money-laundering checks.
You see this is a big players game in a broken economy. Bitcoin is here to stay. Read full story here