Crypto Fraud is NOT a Cash Crime!
Posted on: 13/05/2024Doesn’t a photograph of a suitcase or table-top of cash - which you can see by clicking on the link - add drama to a newspaper story!
However, the FACT is that the cash mentioned was only 10% of the “value” of the fraud subject to this prosecution - and that £5.7 million figure itself probably does not reflect the full story of this crypto crime; it is simply the figure the police were able to evidence.
In reality, cash did not play a significant role in this fraud, no more than it played any part in the $Billion activities of Sam Bankman-Fried!
The “Authorities”, represented in this country by the Financial Conduct Authority, are very happy to impose and dramatically publicise “vital” Anti Money Laundering regulations, which severely inconvenience the 99.9% users of cash who are honest decent people and businesses just going about their daily lives and activities.
This pretence that cash has a substantial role in financial crime MUST stop.
It is window-dressing, allowing the “Authorities” to posture that they are doing “something”, when in reality, cyber criminals get away with $Billions of crime every year, with the same “Authorities” virtually helpless to stop them.
Cash is a friend to the public EVERYWHERE.
It WILL continue to be, as the notion of “cashless” societies becomes increasingly and rightly ridiculed, exposed as ugly commercial hype very much AGAINST the Public Interest.
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