MoneyLaundering.com: Cryptocurrency Research Firms Vastly Underestimate Illicit Payments, Critics Claim

Description

Cryptocurrencies have transformed drug trafficking by enabling crime syndicates to cut out street dealers and sell directly to
customers around the world through darknet markets, as well as peddle higher-quality narcotics, said Sean Foley, a finance
professor at Macquarie University in Sydney and one of the report’s authors. 

“Chainalysis is trying to tell us about the total consumption of cocaine in Australia by telling us about how much cocaine has
been seized,” Foley said. “It’s very difficult for me to meaningfully comment on the methodology because they don’t really tell you what they do.”