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2020’s Twitter Bitcoin Hack

2020’s Twitter Bitcoin Hack

One year ago, when the initial news of the Twitter bitcoin hack came out, this event had left a train of news across the globe. When this breach occurred, cryptocurrency exchanges dealing with Bitcoin transactions had to act quickly, using crypto blockchain analytics and detection tools to visualize the cryptocurrency’s movement in advance and help their clients quickly respond to the risk.

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Why Do Firms Use Places Like The Bahamas As Offshore Financial Centres?

Why Do Firms Use Places Like The Bahamas As Offshore Financial Centres?

In recent years, money laundering schemes have found their way into the spotlight through various news leaks. Specific disclosures from renowned lists have recently exposed various laundering schemes, including the Panama Papers and Wikileaks in 2010. These schemes bring questions to light, like why do US firms use places like the Bahamas as offshore financial centers? This list is known as the Paradise Papers.

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US Money Laundering: The Dominant Dollar

US Money Laundering: The Dominant Dollar

The US dollar is one of the most important currencies worldwide – If not THE most important currency overall. The US dollar is also one of the most important currencies for money laundering and US money laundering is already a global concern.

Obviously, this is closely related to the US of the US dollar in international business dealings. According to research, 87% of global foreign-exchange transactions involve the US dollar. Researchers also observed that at least 80% of trade finance dealings were conducted in USD. With other currencies settling at around only 5-10%, the US dollar dominates the financial world of trade.

The prominence of the US dollar makes it prone to money laundering.

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