Cryptocurrency's rising role in New Zealand's financial crime landscape

Experts warn that the increasing use of cryptocurrency in financial crime may be becoming more mainstream in New Zealand.

A recent case involving a major drug syndicate using digital currencies to launder money has raised concerns about the ease with which illicit funds can be hidden and moved.

Dr Abhishek Mukherjee, senior lecturer in finance at the University of Waikato, believes that this trend is no longer just a fringe issue for financial crime.

The use of cryptocurrency exchange services, such as KuCoin, Coinbase and Easy Crypto, has been linked to a major Hamilton-based drugs operation led by Madison Fraser Webb.