A woman in New York woman has been busted for trying to provide financial support to the ISIS using cryptocurrencies. According to persecutors, she was buying cryptocurrencies using fraudulently obtained credit cards.
Today, the U.S. Attorney’s Office (Eastern District of New York) charged Zoobia Shahnaz today with bank fraud and three counts of money laundering.
The announcement revealed today does not mention Bitcoin directly. However, the office stated in a press release that she send overseas more than $150,000 that she sourced from credit cards. She used these cards to buy Bitcoin and other cryptocurrencies. Then she laundered the money by sending it back into the banks before she finally sent it to ISIS.
In addition, she fraudulently obtained a loan for this purpose, according to prosecutors.
Further, the Court documents refer the named of four banks. These are Chase, American Express, Discover, and TD Bank. After Shahnaz sent the transactions, the law enforcement questioned her while she was trying to travel from New York to Syria. At the moment, it’s uncle if Shahnaz sent any Bitcoin overseas.
If she convicted on all charges, her maximum sentence could be up to 90 years in prison, as the attorney’s office stated.
What does this incident indicate about Bitcoin?
In contrast with many influencers that blame Bitcoin for money laundering, this story proves that it’s not easy for someone to use cryptocurrencies for criminal activities without being noticed.