Latin American Crime Groups Using Crypto To Launder Money

By Sarah Jarvis (February 28, 2020, 6:12 PM EST) -- Organized crime groups in Latin America are increasingly using cryptocurrency to launder money and are turning to the so-called dark web to find hackers for hire, according to a report released by the cybersecurity company IntSights.

The recently released report, titled "The Dark Side of Latin America: Cryptocurrency, Cartels, Carding, and the Rise of Cybercrime," details how organized crime groups and cartels in Latin America are taking advantage of advances in digital banking and money transfers to operate extensive schemes targeting banks, hospitality services and retail businesses.

Kevin Diffily, a content marketing manager with IntSights, said in a blog post Friday...

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