Quantcast

Financial security expert on Russian money laundering crackdown: 'You can’t move large sums into crypto without people noticing'

New proof of reserves for Binance: the exchange finally cleared?
Ternoa gets into DeFi: smart contracts arrive on the betanet
Bitcoin: More than 6,000 merchants accept BTC in their store
Coinbase plans acquisition to expand derivatives offering in EU
BTC: Cboe exchange approves listing of Fidelity Investments Bitcoin Spot ETF
European Central Bank lays out €1.2bn plan for development of digital euro
Nexo acquitted of money laundering and tax fraud
Donald Trump sells $2.4 million worth of ETH
Are modular blockchains the answer to scalability problems?
THE TITANS OF WALL STREET AND THE BITCOIN ETF RACE – CRYPTO PERSONALITIES OF 2023
CRYPTO: RIPPLE VERSUS THE SEC, WILL THE WAR CONTINUE IN 2024?
BNB Surges 11% to Overtake Solana as Community Welcomes Sleepless AI
The fortune of the former CEO of Binance increased by 25 billion in 2023
The 5 events that marked the world of crypto in 2023
Currencies and Freedoms: Interview with Benoit Huguet
Survey: Bitcoin adoption slowed by an overly complicated crypto wallet?
Coinbase obtains PSAN registration in France
Crypto industry steps up political donations as mood in Washington sours
Bitcoin miners splash out $600mn in race to squeeze out rivals
Circle secures conditional registration in France under DASP rules
PSAN: the challenges of Circle and Coinbase's arrival in France
El Salvador Offers Citizenship to Bitcoin “Donors”
Coinbase Lands PSAN Registration in France
EXCLUSIVE: Swift makes progress on a blockchain settlement system
Binance CEO Richard Teng: 'Binance has invested heavily in compliance'
Shares, Trade Republic, Robinhood: the growing appetite of investment apps for cryptos
Banks, Tech, Crypto: The Biggest Winners and Losers in Congress
Stablecoin Push Unleashes Flood of Crypto Lobbying Cash in US Congress
Former regulator faces pushback for ‘delusional’ characterization of Binance founder
Fiat Republic raises $7M to connect banks and crypto exchanges
Financial security expert on Russian money laundering crackdown: 'You can’t move large sums into crypto without people noticing'
Policy
Webp nils
Nils Andersen-Röed, Head of Global Financial Intelligence Unit (FIU) at Binance | Basel Institute

Nils Andersen-Röed, Head of the Financial Intelligence Unit at Binance and ex-Europol investigator, said that blockchain’s transparency is a "powerful tool" against illicit activity following the takedown of a multibillion-pound Russian money laundering network by the UK National Crime Agency (NCA). Andersen-Röed shared his statement with Crypto Republique on Dec. 5.  

"Blockchain has again proven to be one of the most powerful tools for law enforcement's anti-money laundering efforts. The immutable, public nature of the blockchain makes crypto a poor choice for money laundering because it allows law enforcement to uncover and trace money laundering far more easily than cash transactions,” Andersen-Röed told Crypto Republique. “You simply cannot move large sums of money into crypto without people noticing.”

The NCA recently announced the successful takedown of this network, which operated through traditional financial systems. Operation Destabilise, led by the NCA, uncovered extensive use of traditional financial infrastructure to obscure illicit funds linked to cybercrime, Russian elites, and domestic drug cartels. Despite employing sophisticated methods to exploit the opacity of traditional financial institutions, it was ultimately the transparency of blockchain technology that exposed and disrupted its operations. The investigation resulted in 84 arrests and the recovery of over £20 million in cash and cryptocurrency.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

According to experts at Chainalysis, as blockchain adoption continues to grow, its inherent transparency will redefine financial accountability and weaken the grip of criminal enterprises on legacy financial systems. This perspective was shared in a blog post by Chainalysis.

Andersen-Röed leads efforts at Binance to combat financial crime through blockchain analytics and regulatory compliance. A former Europol Dark Web investigator, he has extensive experience in tackling cybercrime, money laundering, and illicit financial activities across both law enforcement and the private sector.

Organizations Included in this History
More News

Here’s how Bitcoin, Ethereum, Binance Coin, and other key cryptocurrencies performed on March 14, 2025.

Mar 15, 2025

Slava Demchuk, CEO of AMLBot, said that the implementation of the Markets in Crypto-Assets Regulation (MiCA) will compel 75% of virtual asset service providers (VASPs) in the European Union to halt operations due to compliance challenges.

Mar 14, 2025

Today’s crypto overview: Price action across Bitcoin, Ethereum, Binance Coin, and more on March 13, 2025.

Mar 14, 2025

Bitcoin, Ethereum, Binance Coin & more: Today's crypto overview — March 12, 2025

Mar 13, 2025

OKX has announced that it has secured full Markets in Crypto-Assets (MiCA) approval amid an ongoing European regulatory investigation into its Web3 platform.

Mar 13, 2025

From Bitcoin to Solana: Here’s how major cryptocurrencies moved today – March 11, 2025.

Mar 12, 2025