The government should intensify its crackdown on unlicensed cryptocurrency platforms with financial ties to organized crime syndicates, according to a ranking...
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He said these platforms are enabling criminals to move millions in illicit funds with little to no trace, potentially leading to criminal activities such as kidnappings, human trafficking, large-scale scams, illegal drugs, and illegal gambling operations. “These numbers paint a grim picture: the Philippines is now in the midst of a digitally enabled crime epidemic—one that calls for immediate public vigilance, private sector safeguards, and proactive regulatory intervention and law enforcement action,” said Villaseñor.
The ECCP official noted that some of these platforms offer advanced obfuscation tools, such as coin mixers and privacy-centric tokens, which are designed to evade detection.
Warns Of Organized Crime Using Unlicensed Crypto Platforms
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