In 2017, I wrote about the ease in which criminals can transfer funds and launder illicit proceeds through online microlending and crowdfunding sites.
As traditional financial institutions have undertaken de-risking efforts in recent years, other avenues of lending and banking have emerged as a necessity for various regions to maintain financial freedom. One of those growing avenues is peer-to-peer lending, also known as microlending. Microlending is a multi-billion dollar a year industry that enables borrowers to build businesses and create sustainable income within underbanked and economically restricted geographies.
https://www.riskscreen.com/kyc360/article/microlending-and-crowdfunding-aml-risk/
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