World’s dumbest thieves try money laundering with digital yuan

December 7, 2022 by Rich Turrin

Thanks to Forkast for this great interview!

Please see the full article: here

“These definitely are the world’s dumbest thieves,” Richard Turrin, a Shanghai-based fintech consultant who published “Cashless: China’s Digital Currency Revolution,” told Forkast.

Turrin said there is no practical way for a criminal to effectively launder the digital yuan, as the authorities could track transaction history if they obtain a warrant.

Turrin said the recent policy papers released by U.S. and European authorities have made it clear that there will be no 100% anonymous digital dollar or digital euro. “This is not a position that is unique to the PBoC’s,” Turrin added.

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About Rich Turrin

Rich Turrin is the international best-selling author of “Cashless – China’s Digital Currency Revolution” and “Innovation Lab Excellence.” He is an Onalytica Top 100 Fintech Influencer and an award-winning executive previously heading fintech teams at IBM following a twenty-year career in investment banking. Rich is a leading media commentator and advisor on China’s digital currency and tech scene. Living in Shanghai for more than a decade, Rich experienced China going cashless first-hand.