Japan’s National Police Agency (NPA) say cases of suspected money laundering reportedly linked to cryptocurrency increased by 900 percent in 2018 when compared to the previous year. However, this still comprises only 1.7 percent of all money laundering investigations.
Cryptocurrency Money Laundering Up Tenfold in Japan
According to The Japan Times, the NPA reports that it recorded 7,096 cases of suspected cryptocurrency money laundering. This figure represents a tenfold increase from the 669 cases reported between April and December 2017.
Back in early December 2018, the NPA released a report stating that alleged cases of cryptocurrency money laundering for the year stood at almost 6,000. At the time, the period accounted for was between January 2018 and October 2018.
Since Q2 2017, regulators have required cryptocurrency…