Fighting money laundering and fraud with a ‘clean cryptocurrency’

February 08, 2019
Darya Karatkevich

Former HSBC employee and whistleblower, Herve Falciani, is working with Spanish researchers and academics on a project to create a “clean” form of cryptocurrency, “Tabu.” The project, funded by Tactical Whistleblowers, is working towards a crypto, which will be completely traceable due to its certificate, and Falciani believes it’s crypto that governments can embrace.

crypto hand

Falciani believes that all technology could be used for either “good” or “bad,” which is why he’s trying to create a completely transparent, “ethical” form of crypto. According to Reuters, he believes that blockchain, if used for “good,” could begin to fight against crypto fraud.

There are currently five million (approximately 2.3 million USD) Tabu crypto-tokens ready for sale; however, they’re just waiting for the green light from Spanish regulators.

Along with the Tabu coin, Falciani is working on launching a new initiative based on blockchain, which will allow public administrators to cross check contracts to avoid accidental overbilling and fraud.

Falciani is currently in the witness protection program because of his whistleblowing on HSBC. While working there, Falciani was a system engineer and purposely leaked a series of client data which set off the alarms and launched several tax investigations.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

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