Lucrezia Ricchiuti states that mafia organizations use bitcoin casinos to launder money

It is not surprising that the Italian Mafia is related to the virtual currency bitcoin and criminal acts, such as the money laundering, since it is defined by the Italian Bank as ”a virtual currency, unregulated, decentralized, based on P2P and encrypted in a shared chain of blocks” , features which facilitates illegal activities by organized gangs.

Lucrezia Ricchiuti states that mafia organizations use bitcoin casinos to launder money
Lucrezia Ricchiuti states that mafia organizations use bitcoin casinos to launder money


This isn’t the first time that Bitcoin and money laundering have been mentioned in the same breath of course either. Way before the pseudonymous currency was trading for four-figure dollar sums, it was being used as a convenient means of obfuscating the origins of money trails.

In this sense the Italian Senate has been recently discussing criminal and mafia associations in this European country and how they have been able to infiltrate the legal and illegal gambling sector.

As was originally reported by the magazine PressGioshi, the Italian mafia might start using Bitcoin to facilitate the development of its gambling activities and  Senator Lucrezia Ricchiuti spoke of investigations that show results of mafia organizations using bitcoin casinos for money laundering, exposing also the new methods used by mafias to launder money from illegal activities in a legal way through the bitcoin casinos on the web.

Ricchiuti expresses herself of the case of the following way:

According to an investigation by the Financial Information Unit (FIU) it is possible to open a bitcoins-based entertainment site in a short period of time, operating in the absence of controls and in complete anonymity. This means that more and more, we need to refine strategies to prevent virtual currencies from being drawn into the mafia’s money laundering.

Lucrezia Ricchiuti also stressed that the Italian Senate should not only focus on general anti-money laundering and anti-mafia policies and organized crime, but should also start by looking at new forms of financing, services of alternative payment and specifically the cryptocoins.

These regulations could focus on imposing taxes on licensed gambling sites or making all pages lent for illicit activities face terrible judicial consequences, equated with domestic terrorism or international crime.

But this is not the first case where some criminal association takes prey to the cryptocurrencies, like the Bitcoin, to be able to wash money of its different illicit activities, as it was the recent fact that was exposed in Holland.

One famous case was a drug-buying and selling portal called Silk Road, which was prosecuted by authorities after it spouted Bitcoin with bad publicity after its financing with terrorist relationships like ISIS was made public.

In response to all these activities, the European Commission and a number of global security agencies, such as the FBI and Interpol, have decided to put this whole matter in their hands and discuss it urgently, so that a solution can be found through regulations to that these illegal activities cease to take place through the cryptocurrencies. Authorities have also put in place the creation of systems that allow the tracking of transactions suspected of illegality in the blockchain network, as in the case of the police system developed by Denmark.

However, opponents of Lucrezia Ricchiuti’s party consider that it is useless to make a regulation on web casinos and gambling as this is a method of money laundering that has been used even before the bitcoin and will not be stopped. They believe, in any case, that such currency can be regulated.

The parliamentary commission against the phenomenon of the mafia and the criminal association aims to address the problem of organized crime in the Italian country thanks to legislative solutions. Document XXVIII, n.18 is the project by which Ricchiuti and other legislators belonging to the said parliamentary committee intend to regulate and combat the use of games of chance and bets by mafia organizations for the purpose of money laundering. With this they intend to achieve by means of a compendium of laws that make possible the fight against money laundering, regulations that are planned to be implemented before June 2017.

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