Technology has changed money-laundering
This will confound government enforcers for years to come
ON JUNE 2nd Bill Guan, the chief financial officer of the Epoch Times, a right-wing newspaper, was arrested. Prosecutors in New York charged him with laundering $67m, allegedly buying pre-paid debit cards using cryptocurrency. (Mr Guan has pleaded not guilty.) Chainalysis, a blockchain-analysis firm, estimates that $22.2bn in illicit funds were laundered globally using cryptocurrencies in 2023. Despite Western sanctions, Iran, North Korea and Hamas, a terrorist group, all launder funds with crypto.
Explore more
This article appeared in the Culture section of the print edition under the headline “When screens clean the green”
Culture June 22nd 2024
From the June 22nd 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Culture
Want to spend time with a different American president?
Five presidential biographies to distract you from the news
Los Angeles has lost some of its trailblazing architecture
How will it rebuild?
What firms are for
The framework for thinking about business and capitalism is hopelessly outdated, argues a new book
Greg Gutfeld, America’s most popular late-night host, rules the airwaves
The left gave him his perch
Astrology is booming, thanks to technology and younger enthusiasts
Gen Z is full of stargazing users
Why matcha, made from green tea, is the drink of the moment
Is it really a healthy alternative to coffee? Not the way Gen Z orders it