| /

‘October, 1999’

Law officials fear that electronic cash may increase money laundering

Law officials fear that electronic cash may increase money laundering

Earth Times News Service, Oct 31, 1999

The dangers of international money laundering are massively magnified by electronic transfers and the new electronic cash. “The really big challenge that’s coming, that’s arrived, is electronic cash,” said Thomas Roche, Deputy General Counsel of the Federal Reserve Bank of New York. “That’s going to present really daunting challenges. There’s always been an audit trail in credit cards and checks.