Fewer than 1% of all Bitcoin transactions are involved in criminal activity such as money laundering, according to a recent report from Bitcoin forensics company Ellicit, and Bitcoin analysis team FDD.

The report, which was created to evaluate the usage of bitcoin exchanges and the potential risks associated with it, has shown that money laundering isn’t as big a problem as numerous cryptocurrency critics had originally thought.

The findings also highlighted that the total money laundering activity involved in Bitcoin exchanges is insignificant, and that dark web locations, including AlphaBay and Silk Road, are actually the home of the majority ofillicit Bitcoins laundered through the platforms. Furthermore, the report suggests that the majority of unlawful bitcoin transactions spotted took place in Europe, which processed over five times the amount of illegitimate transactions as North America.

To conclude, the report explained that the most effective method to fight against bitcoin transactions being used in criminal activity is by improving and strengthening specific anti-money laundering (AML) processes and efforts. The report also stated that the best way in which to manage and control bitcoin transactions, is for official governments and authorities in all areas to strengthen their enforcement of existing legislation.