How is paper money tracked?
How is paper money tracked? The most common way to track down marked dollar bills is to use UV markings and note the serial numbers of the bills.
How can cash be untraceable?
The use of the Internet allows money launderers to easily avoid detection. The rise of online banking institutions, anonymous online payment services, peer-to-peer transfers using mobile phones, and the use of virtual currencies such as Bitcoin makes detecting the illegal transfer of money even more difficult.
Is paper money untraceable?
Paper money also isn't subject to cybersecurity risks or potential privacy violations, he added. “When I hand you a $20 bill, there is no data captured by anybody from that transaction…it's a relatively anonymous private thing, whereas all digital forms of payment generate data trails,” Maurer said.