The report published by Chainalysis suggests that traditional money launderers - criminals working outside of cryptocurrencies - may also be moving their cash on-chain. Research director Kim Grauer said that traditional money launderers are starting to use crypto networks to create "large-scale money laundering infrastructure" to launder cash outside of cryptocurrencies. It is reported that these transfers did not originate from the crypto scams, thefts and ransomware attacks that Chainalysis is known for flagging on the blockchain (a transparent digital ledger of all crypto transactions). In contrast, such transactions are more opaque and come from wallets that are not considered illegal. However, they flow across the blockchain to the exchange in accordance with a strategy that traditional financial compliance departments might flag. For example: splitting up integer parts slightly below the know-your-customer (KYC) reporting threshold and then piecing them back together.