UK police are particularly worried as 'famous' Albanian gangsinvolved in cocaine circuits, now use cryptocurrencies to launder money, acquired by illegal activities.
The involvement of the gangs with their cocaine brings in profits of 6,23 billion dollars annually. Albanian gangs are one of the most sophisticated in the Europe and has close links with Colombian drug cartels.
Albanian drug dealers, known as Hellbanianz, use social media to recruit new members. They have managed to gain hundreds of thousands of followers on Instagram. Even some merchants in prison send and share photos and video through their cells.
Now, the criminals, in order to escape the surveillance of the police, have turned in technology related to cryptocurrencies. Police chief Peter Goodman said Albanian gangs have been using cryptocurrencies and Bitcoin cashpoints for money laundering.
He also said that The Criminals they have begun to use modern technologies to commit their crimes. This means that the authorities should adopt a new approach to tackling organized crime.
Cryptocurrency and organized crime
One expert said that cryptocurrencies offer many advantages but can be used by malicious people hackers for illegal activities.
The worry is that this case does not look like malware software, designed for malicious purposes. Cryptocurrencies are designed to protect and enhance privacy security and anonymity. Hackers have started using them to serve their interests.
Albanian gangs decide to use cryptocurrencies for money laundering because finding them is not easy. However, it is not impossible. Authorities have become accustomed to new technologies and have faced several similar threats.
“As technology evolves, there are ways in which cryptocurrency transactions can be monitored. For example, all transactions are listed in the widely accessible directory blockchain"A police officer explains.
He further said: “By combining the details of transactions with other information and analytical techniques, services law enforcement and security experts at cyberspace find ways to detect criminals using cryptocurrencies. But it is still a slow process. "