Germany's Financial Intelligence Unit (FIU) has recorded a record number of cryptocurrency-related suspicious activity reports (SARs) in 2024 despite an overall decline in total filings. The FIU reported 8,711 crypto-linked SARs, an 8.2% rise from the previous year.

Most flagged transactions involved Bitcoin, followed by Ethereum, Tether, and Litecoin. These were often tied to trading platforms, mixing services, or online gambling-tools frequently used to hide the origin of illicit funds. The agency said digital assets continue to play a growing role in money laundering operations.

Germany's trend reflects broader international concerns. In the UK, the National Crime Agency said cryptocurrency exchanges were linked to 6.6% of all SARs during the 2023-24 period, as overall filings rose to around 872,000.

Authorities also observed a rise in counter-terrorism financing reports and account freezes. In the US, FinCEN received over 8,600 crypto-related SARs in fiscal year 2023.

Meanwhile, blockchain analytics firm Chainalysis reported laundered crypto volumes dropped from$31.5 billion in 2022 to$22.2 billion in 2023, though total criminal crypto usage remained stable at about$50 billion annually.