Solving fraud related crimes with cryptocurrency

One of the newest trends in the financial market is the world of cryptocurrency. Cryptocurrency basically combines the elements of science and mathematical theory in securing communication and converting information into unbreakable codes. Investing your money in cryptocurrency is very similar to investing in other commodities.

There are many ways one can buy cryptocurrency one of them is paying the investing fee directly or rather harnessing cryptocurrency. The popularity of cryptocurrency is increasing by day however it is still a very new concept to most people making it a fruitful investment in the future.

Cryptocurrency usage

The market cap for cryptocurrency is in the world is worth trillions of dollars and this includes those that are in existence including even the smaller as well as unknown cryptocurrencies. The real value of cryptocurrency has gone up over the last few years showing a tremendous increase in usage. Cryptocurrency in general operates similar to the way money operates and it aims at solving problems. The more problems it can solve the higher the value. The best part is that you can exchange cryptocurrency with real money.

Crypto Fraud

The issue of fraud has been in existence for a very long time and it has been associated with misleading financial reports as well as misappropriation of funds. A good case is that of Werner Boehm former CEO of BitRush who betrayed shareholders as well as people whom he called friends.BitRush is a tech company that is focused on the development of cryptographic payments. Boehm is accused of misleading the company as well as misappropriation of funds that led to the shareholders losing a lot of money.

Fraud basically is defined as the act of depriving another property by means of deception or other unfair means through deliberate act and can be classified as follows: corruption which entails any form of bribery, conflict of interest, economic extortion as well as illegal gratuities.Misappropriation of cash assets entails fraudulent disbursements, skimming, skimming and check tempering among many more.

Werner Boehm transferred funds from the company to his own private company and refused to account for the money.He is also accused of failing to ensure that the company was entitled to use the technology, he never took any steps to make sure that it was done nor did he advise the board on the same case. This lead to the termination of his contract as well as any dealings with the company click here for more info.