Italian Bank Highlights Risks of Anonymous Cryptocurrency Services

According to PANews, the Italian Bank has released its 893rd research paper titled 'Money Laundering and Blockchain: Can You Trace the Crypto World?' in November 2024. The paper highlights concerns over certain cryptocurrency websites, such as kycnot.me, which offer peer-to-peer services without requiring customer identity verification (KYC). These services are categorized under 'Crime-as-a-Service' due to their anonymity and lack of regulation, making them significant tools for money laundering activities, particularly in jurisdictions lacking effective anti-money laundering regulations.