Cybercrime and money laundering

Cybercrime and money laundering

Bitcoins, payment service providers and other methods of laundering banking malware and ransomware (full text only available in Dutch)

Summary

This study focusses on the money laundering process and maps the actors involved in banking malware and ransomware. Banking malware, in short, is malicious software that is intended to steal money through online banking payments. Ransomware is malicious software that keeps a computer system (or all files on it) ‘hostage’ and demands a ransom payment to unlock the system. The key question of this research report is: in what way and through which actors are profits of banking malware and ransomware laundered? To answer this question, six sub-questions were formulated:

  1. What is money laundering of banking malware and ransomware profits, and how can this kind of laundering be qualified in criminal law?
  2. What are new payment methods, especially virtual currencies such as Bitcoin, and how do they work?
  3. How and with the help of which actors is money laundered that is obtained a through a) banking malware? b) through ransomware?
  4. What are the characteristics of actors involved in the money laundering process?
  5. Which information about the modus operandi of actors involved in the money laundering of banking malware and ransomware profits is available on the dark web?
  6. What role do new payment methods, especially virtual currencies such as Bitcoin, have in the money laundering process of banking malware and ransomware?

Publication data

Author(s):
Oerlemans, J.J., Custers, B.H.M., Pool, R.L.D., Cornelisse, R.
Organization(s):
WODC
Place of publication:
Den Haag
Publisher:
Boom criminologie
Year of publication:
2016
ISBN:
978-94-6236-728-9
Series:
Onderzoek en beleid 319

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