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.
This article appeared in the Culture section of the print edition under the headline “When screens clean the green”
More from Culture
The real theme of J.D. Vance’s and Donald Trump’s memoirs
“Hillbilly Elegy” and “The Art of the Deal” reveal a lot about who the men are—and were
How “The Blair Witch Project” changed horror films
Released 25 years ago, it was a masterclass in doing more with less
A poignant reflection on Native American “blood quantum” laws
A new novel follows a man cast out from the tribe in which he grew up