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Do Bitcoins Minimize Crime? Fraud Prevention Panama paper

Do Bitcoins Minimize Crime? Fraud Prevention Panama paper

 

Ripples of billion dollar scam and revelation of   Panama papers seem to be still forceful to bang the   whole world.  People have been given dosages of hallucination when they have learnt about the involvement of great personalities, eminent scholars, politicians and bankers in money laundering cases.

It is a real story and  even the name of Betty White in America has been mentioned in the confidential list of persons who funneled billion dollars into their secret offshore accounts without informing government.

Well, this Panama paper leakage has embedded connection with Bitcoin. Or maybe it can be a strong issue whether   Bitcoins prevent the risk of money laundering if Panama papers were not leaked.  Bitcoin is a crypto currency. It is computerized digital coin.

A customer has no necessity to get printed coins using the minting machine online. It is supported by powerful software.    Well, in the case of tax dodging or evasion, maybe, the possibility of money laundering might be low because of the restrictions applied to generate Bitcoins on a single go.  That means. The maximum strength to mint bitcoins is 21 million.  So, a scammer or money launderer will not steal sufficient amount of fund if he or she uses Bitcoins.

Panama paper leaked names of business tycoons who have billion dollar assets. So, they will not be interested to forge bitcoins which are not sufficient to them.   Bitcoins are computer generated   digital currencies. The block chains record the bitcoin transfer or deposit details   it is easy to an investigative agency to tamper with the Bitcoin accounts to cross check the screenshots of transactions.

However, still   FBI and other intelligence agencies claim that underworld dons are able to decode the block chains or any hidden dust transaction with powerful hacking tools.   The money laundering is the byproduct of dark sides of character of people.  They must have truthfulness, honesty and clarity in their deeds.

Crime must be controlled by correcting behavior and basic instinct of human beings. 

Uber Versus Lyft – Which Is Better for You? Deep Analysis

Uber Versus Lyft – Which Is Better for You? Deep Analysis

Role of Nanotechnology in Growth of Oil & Gas and Utility Industry

Role of Nanotechnology in Growth of Oil & Gas and Utility Industry