Watch out – Corrupters are using bitcoin!

Recently, former Zimbabwean captain and current coach, Heath Streak was banned by the ICC for eight years for breaches of the Code. As part of the investigation, it was established he had received two bitcoins and a mobile device from a corruptor in 2018.

Bitcoin is a cryptocurrency that can be exchanged for other currencies, products and services. Created in 2009 by an unknown person using the alias Satoshi Nakamoto, this digital currency had hit the level of USD1 for the first time on 9 February 2011 and by 2021, had reached an all-time high of around USD60,000.

Corruptors will try to use all modes of transactions to facilitate a payment including cash and 'Hawala' with Bitcoin trading being a known activity among some ICC Persons of Interest. It is noted that in some countries, Bitcoin is still an illegal tender and because it is difficult to identify associated parties in a Bitcoin transaction, it is a popular currency in the criminal fraternity.