15 Aug '12, 2am

Money laundering using virtual worlds, Bitcoin on watchdog's radar - Computerworld Australia #bitcoin

Over the last two decades cybercrime has matured from the early days of curiosity-driven hackers and pranksters to a fully fledged industry. In the process, much of the distinction between ‘traditional’ crime and online crime has been eliminated: On the one hand organised crime now uses the internet as another tool for communication and transferring criminal proceeds; on the other hand spam, phishing and malware are mature criminal industries. At the same time as the internet has changed the way people socialise, entertain themselves and work, it’s helped transform the criminal underworld, offering new ways to make money — and new ways to use launder proceeds whether from traditional crimes or cybercrime. In July, the Australian Transaction Reports and Analysis Centre (better known by its acronym, AUSTRAC) issued one of its periodic typologies reports, which summarise mone...

Full article: http://www.computerworld.com.au/article/433634/money_laun...

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