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US Officials: Virtual Currencies Vulnerable to Money Laundering

Virtual currencies may give consumers a cheap, efficient and convenient way to move money, but those same attributes make them appealing to criminals, the head of the Justice Department's Criminal Division told Congress on Monday. “We have seen increasing use of such currencies by drug dealers, traffickers of child pornography, and perpetrators of large-scale fraud schemes,” Mythili Raman, the acting assistant attorney general for the division, told a Senate panel. The...

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