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Friday, July 12, 2024
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Spotify’s New Feature: Money Laundering for Dummies

Swedish criminal networks have been using Spotify to launder money since 2019, according to a new investigation by Svenska Dagbladet (SvD). The gangs buy Bitcoin through "cash in hand" trades initiated via a Facebook group, and then use the cryptocurrency to pay for fake streams of music published by artists with ties to the gangs. This artificially inflates the popularity of the music, which then leads to higher royalties from Spotify.

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