During a public conference held in early January, officials from the PPATK (Pusat Pelaporan dan Analisis Transaksi Keuangan) – an independent agency created in 2002 to track money-laundering activities in Indonesia – stated that the Islamic State is strongly suspected of financing its operations through bitcoinBitcoin is commonly said to be a cryptocurrency, a digital means of exchange developed by a set of anonymous authors under the pseudonym of Satoshi Nakamoto, which began operating in 2009 as a community project (Wikipedia type), without the relationship or dependency of any government, state, company or body, and whose value (formed by a complicated system of mathematical algorithms and cryptography) is not supported by any central bank or authority. Bitcoins are essentially accounting entries i... More platforms and PayPal online services. Yvan Yustiavandana, research director at PPATK, declared that terrorist groups seem to favour modern and sophisticated online paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More instruments, probably because transactions made through those channels are more difficult to track and almost anonymous.
The Indonesian authorities have found evidence that Bahrun Naim, leader of a regional group affiliated to the Islamic State and the alleged perpetrator of a terrorist attack in Jakarta in 2016, exploited digital currencies to transfer moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More to other members.
Even the European Union is currently debating on introducing stricter regulations on cryptocurrencies, such as bitcoins, as they seem to be mostly used for illegal transactions.
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