Before Satoshi Nakamoto 'coined' the term
'Bitcoin' back in 2007, financial crime analysts spent the
majority of their time analysing transactions between traditional
bank accounts across the globe.
This analysis mainly involved the use of IBAN
(International Bank Account Number) numbers; a
number the format of which would help identify the country and
financial institution that provided the account. This therefore
meant financial investigators knew which bank to contact if they
were able to identify that illicit funds had been transferred to a
specific IBAN.
With virtual currency it is possible to analyse the record of
virtual asset transactions stored on a transparent blockchain, but
in the blockchain ledgers raw format this will only result in the
identification of an unattributable wallet address that the illicit
virtual assets have ended up in. What you won't see are any
details of who the wallet is owned by or which geographical area it
is being controlled
