BTC is used in trafficking or exploitation of people and children: FinCEN Report

Feb 14, 2024
According to a report released Tuesday by the U.S. Treasury Department, in 2021, there was an increase in the use of Bitcoin in global criminal schemes for human trafficking and child sexual exploitation.

In the period from 2020-2021, the FinCEN Crime Commission processed 2,311 reports on the use of cryptocurrency in such crimes in excess of $412 million.

The last investigated cases of such transactions are dated December 2021, that is, more than two years ago.

According to FinCEN, most of the cases involved the exchange of cryptocurrency for materials about child sexual abuse. Mostly anonymous crypto exchanges or coin mixers were used for transactions.