Gardai believe criminals are using bitcoin ATMs to turn illicit cash into cryptocurrency because of the difficulties they face laundering cash during the pandemic.
Bitcoin ATMs allow users to exchange cash for cryptocurrency in a matter of seconds. Like normal ATMs, they are found in locations including convenience stores, internet cafes, shopping centres and service stations across the country.
Gardai suspect their use as money-laundering sinks has been accelerated by the pandemic. They say fraudsters and drug dealers have found it difficult to launder cash during lockdown because many of their front businesses have been closed or could not purport to have high cash turnovers.
Barbers, hairdressers, clubs, bars and nail bars are among the businesses often used to launder money. They are also the
