Yaya Fanusie on 'Central Bank Digital Currencies: The Threat From Money Launderers and How to Stop Them'
The Lawfare Podcast
The Lawfare Institute
4.7 • 6.4K Ratings
🗓️ 15 December 2020
⏱️ 40 minutes
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Summary
Alan Rozenshtein sat down with Yaya Fanusie, a former CIA analyst and an expert on the national security implications of cryptocurrencies, who recently published a paper as part of Lawfare's ongoing Digital Social Contract research paper series, entitled, "Central Bank Digital Currencies: The Threat From Money Launderers and How to Stop Them." They talked about how central banks are exploring digital currencies, how those currencies might in turn be used by criminals and terrorist groups, and how governments and the private sector should respond.
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Transcript
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| 0:25.6 | no bull and the aftermath. |
| 0:32.6 | So, a money mill is basically a person that is used, usually, usually winning, but not |
| 0:39.4 | always, is used by a criminal to sort of be sort of like a frontman, someone that's going |
| 0:45.1 | to have a clean record that will carry money for them or or have an account for them so |
| 0:51.6 | that the regulators of the police don't identify as an activity. |
| 0:56.4 | So it could be, for example, someone who has a bank account, let's say, you know, just |
| 1:00.9 | a regular person, but they're giving cash from Tony Montana and then Tony Montana, the |
| 1:07.3 | drug dealer, tells them what to do with it. |
| 1:10.2 | So a money mill is that and it could be someone even just carrying cash. |
| 1:13.4 | That's another idea. |
| 1:14.4 | But in the CBBC context, we could imagine just the same thing updated. |
| 1:20.0 | Now, you could have people who are CBBC money mills. |
| 1:24.1 | They have CBBC wallets and now it's not just a bank account and it's not just carrying |
| 1:29.2 | cash, it's carrying potentially dozens or hundreds of wallets, software wallets of CBBC |
| 1:36.2 | that maybe could be programs that can transact in small amounts and they're doing this on |
| 1:41.9 | behalf of a criminal entity or criminal enterprise asking to do it. |
| 1:47.2 | I'm Alan Rosenstein and this is the Law Fair podcast December 15th, 2020. |
| 1:53.4 | Yaya Fannousi is a former CIA analyst and an expert on the national security implications |
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