According to PANews, a recent report from Germany's Financial Intelligence Unit (FIU) reveals an 8.2% increase in money laundering reports involving cryptocurrencies last year. The total number of crypto-related reports rose from 8,049 in 2023 to 8,711, accounting for 3.3% of all suspicious activity reports submitted to the FIU, marking a record high.
Since 2020, there has been a 23.6% increase in these reports, with Bitcoin being the most frequently mentioned cryptocurrency, followed by Ethereum, XRP, Tether, and Litecoin. The FIU noted that credit institutions and banks were responsible for submitting over 6,000 crypto-related reports. These reports often involved transactions with trading platforms, mixing services, and gambling websites.
