Utilization Virtual Coins for the Financing of Terrorism
Article by Ilan Lochoff
The world of terrorist financing has always relied on diverse money transfers through various channels. The decision of which funding channel to choose depends on several considerations –
- To what extent is the axis secret and threatened by the exposure.
- How long does it take to transfer the money?
- Is it possible to trust that the entity through which the funds will pass will not take advantage of the transfer of funds in a way that will harm the organization?
- Is the sending party capable and interested in transferring the funds using the crypto arena?
- Purchasing and transferring the virtual currency does not reveal their intentions.
- Does success in transferring the currency, from the financing side to the recipient side, enable the recipient side to meet its needs – pay salaries, purchase weapons, etc.?
- Is it possible to transfer donations from entities recognized as terrorist financiers to charities operating under the guise of terrorism?
Answering these recent questions will fascinate and help the crypto currency world in understand the motivations of different terror organizations from the stage of coin mining, through the transfer of virtual coins from one electronic wallet to a another. I’m sure that The terrorist organizations are ready for the challenge. Are you?!
By Ilan Lochoff, March 15, 2021