A new U.S. Treasury report concluded that decentralized finance (DeFi) services are being used by bad actors to launder the proceeds of illegal activity, aided by crypto platforms weak or non-existent in anti-money laundering and sanctions compliance programs.
“The assessment finds that illicit actors, including ransomware cybercriminals, thieves, scammers, and [North Korea-based] cyber actors, are using DeFi services in the process of transferring and laundering their illicit proceeds,” said the report, issued Thursday.
