Australia says organized crime in financial sector costing $28 billion a year | Reuters

Money laundering was the main threat amid the rise of online banking and digital currencies, the Australian Criminal Intelligence Commission (ACIC) said in a report on organized crime in the country.

The government is concerned that encryption technology, including cryptocurrencies, allows transactions to evade detection, potentially enabling criminal activity and tax evasion.

Source: Australia says organized crime in financial sector costing $28 billion a year

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