People say cyberlaundering currently isnt a threat, is this true?
Nothing could be further from the truth. Cyberlaundering is slowly becoming the standard for laundering, as it eliminates many crutch points that would otherwise expose or impair an operation for a period of time during the laundering process. For example, a crutch that it eliminates is the physical cash move out of country, which was one of the largest problems of the BMPE (Black Market Peso Exchange). This mandated putting cash in the hands of everyday workers who would then run it across the border in order to convert it to pesos, after which the options to filter it back into a legitimate financial structure became more feasible. Current cyberlaundering techniques require a strict knowledge of programming logic and robust networking skills, however for an industry as large as laundering is, this is of little consequence to attain the human capital to succeed in this area.
