{"product_id":"2940148437703","title":"Bitcoin Virtual Currency: Unique Features Present Distinct Challenges for Deterring Illicit Activity","description":"(U\/\/FOUO) Bitcoin – A decentralized,1 peer-to-peer (P2P) network-based virtual currency –\u003cbr\u003eprovides a venue for individuals to generate, transfer, launder, and steal illicit funds with some\u003cbr\u003eanonymity. Bitcoin offers many of the same challenges associated with other virtual currencies,\u003cbr\u003esuch as WebMoney, and adds unique complexities for investigators because of its decentralized\u003cbr\u003enature.\u003cbr\u003e(U\/\/FOUO) The FBI assesses with medium confidence2 that, in the near term, cyber criminals\u003cbr\u003ewill treat Bitcoin as another payment option alongside more traditional and established virtual\u003cbr\u003ecurrencies which they have little reason to abandon. This assessment is based on fluctuations in\u003cbr\u003ethe Bitcoin exchange rate in 2011 and limited reporting indicating bitcoins are being accepted as\u003cbr\u003epayment by some cyber criminals.\u003cbr\u003e(U\/\/FOUO) The FBI assesses with low confidence, based on current user and vendor acceptance,\u003cbr\u003ethat malicious actors will exploit Bitcoin to launder money. This assessment is based on\u003cbr\u003eobserved criminal activities, investigations, and prosecutions of individuals exploiting other\u003cbr\u003evirtual currencies, such as e-Gold and WebMoney. A lack of current reporting specific to\u003cbr\u003eBitcoin restricts the confidence level.\u003cbr\u003e(U\/\/FOUO) Even though there is no central Bitcoin server to compromise, the FBI assesses with\u003cbr\u003ehigh confidence, based on reliable industry and FBI reporting, that criminals intending to steal\u003cbr\u003ebitcoins can target and exploit third-party bitcoin services and an individual’s Bitcoin wallet.\u003cbr\u003eMalicious actors can compromise personal computers and accounts using malware and hacking\u003cbr\u003etechniques to steal users’ bitcoins and use botnets to generate bitcoins.\u003cbr\u003e(U\/\/FOUO) Bitcoin will likely continue to attract cyber criminals who view it as a means to\u003cbr\u003emove or steal funds as well as a means of making donations to illicit groups. If Bitcoin stabilizes\u003cbr\u003eand grows in popularity, it will become an increasingly useful tool for various illegal activities\u003cbr\u003ebeyond the cyber realm. Since Bitcoin does not have a centralized authority, law enforcement\u003cbr\u003efaces difficulties detecting suspicious activity, identifying users, and obtaining transaction\u003cbr\u003erecords – problems that might attract malicious actors to Bitcoin. Bitcoin might also logically\u003cbr\u003eattract money launderers and other criminals who avoid traditional financial systems by using the\u003cbr\u003eInternet to conduct global monetary transfers.\u003cbr\u003e(U\/\/FOUO) Although Bitcoin does not have a centralized authority, the FBI assesses with\u003cbr\u003emedium confidence that law enforcement can identify, or discover more information about\u003cbr\u003emalicious actors if the actors convert their bitcoins into a fiat currency. Third-party bitcoin\u003cbr\u003eservices may require customers to submit valid identification or bank information to complete\u003cbr\u003etransactions. Furthermore, any third-party service that qualifies as a money transmitter must\u003cbr\u003eregister as a money services business with the Financial Crimes Enforcement Network (FinCEN)\u003cbr\u003eand implement an anti-money laundering program.","brand":"ReadCycle","offers":[{"title":"Default Title","offer_id":47108800020720,"sku":"2940148437703","price":2.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940148437703_p0.jpg?v=1763702959","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940148437703","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}