Around 2-6% of World Bank foreign aid got siphoned into crypto wallets

Automated excerpt

The 2016 Panama Papers leak tightened regulatory enforcement around money laundering and offshore banking. We investigate whether the diversion of foreign aid in developing countries led to a shift to cryptocurrency as an alternative laundering platform. Cryptocurrency facilitates aid diversion, but its transparent ledgers also leave forensic traces that may help detect and recover diverted funds.

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