Crypto Is Increasingly Being Used For Drug and Sex Trafficking, GAO Says

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The Street

By Tony Owusu The number of suspicious activity reports filed with the GAO increased five-fold between 2017 and 2020. Part of the appeal of cryptocurrencies is the anonymous nature of digital tokens, but that anonymity is being used to facilitate human and drug trafficking, the U.S. Government Accountability Office says. The number of suspicious activity reports filed with the Financial Crimes Enforcement Network increased fivefold to 1,432 from 252 from 2017 through 2020, but the GAO says those numbers could be low. In June 2021, the GAO reported on payment methods accepted by 27 online comme…

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