Germany’s Crypto Money Laundering Reports Soar by Over 8% in 2023

A recent report from Germany’s Financial Intelligence Unit (FIU) highlights a concerning trend: the number of crypto-related money laundering reports has increased significantly. Last year, the FIU received 8,711 such reports, marking a new record and representing an increase of 8.2% compared to 2022. This surge is part of a broader trend, with the total number of crypto-related reports since 2020 growing by a substantial 23.6%. The most frequently mentioned cryptocurrencies in these reports were Bitcoin, Ethereum, XRP, Tether, and Litecoin.