The Paris-based watchdog group, the Financial Action Task Force, is warning that organized crime is moving billions of dollars in illicit funds around the world using cryptocurrencies.
A new report by the task force, which is an intergovernmental anti-money laundering group, states that crypto-enabled crime has become more “complex and interconnected.”
In particular, criminal groups are using crypto to launder money and are also using crypto to perpetrate scams and investment fraud on innocent people.
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As of April this year, 51 of 149 jurisdictions assessed were “largely compliant” with the task force’s standards for cryptocurrencies.
That’s equal to one-third (34%) of countries assessed, up from 29% a year ago.
However, the Financial Action Task Force says that “significant gaps” remain in translating risk assessments into actual steps to reduce crypto-related crimes worldwide.
The use of stablecoins by organized crime to launder money has increased dramatically in the past year, with some criminals developing their own stablecoins that cannot be frozen or seized.
Cryptocurrency money laundering reached a record $158 billion U.S. globally in 2025, according to a separate report by Chainalysis.
