Financial Traffic in the Cryptocurrency Market in French Polynesia: A Growing Threat

The article discusses the rising threat of financial traffic in the cryptocurrency market in French Polynesia, highlighting the need for stricter regulations and measures to combat fraud and money laundering.

The Scope of the Problem

• Between January and May 2020, cryptocurrency-related thefts, hacks, and frauds reached a staggering $1.36 billion.
• This represents a significant increase from previous years, with the majority of crypto-victims being victims of fraudulent activities (98%).

Regulatory Challenges

• According to CipherTrace data, 74% of bitcoins transferred between exchanges were sent abroad, highlighting the need for stricter regulations and controls.
• The abundance of cross-border transactions underscores the importance of implementing effective anti-money laundering (AML) and counter-terrorist financing (CTF) measures.

NICE Actimize: A Leader in Financial Crime Prevention

• NICE Actimize is the largest provider of financial crime prevention solutions for regional and global financial institutions, as well as government regulatory agencies.
• As an industry leader, NICE Actimize offers innovative technologies to protect institutions and ensure consumer and investor asset security by identifying financial crimes, preventing fraud, and providing regulatory compliance.

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