U.S. Federal Reserve studying risks among online payment providers

Tue, Jun 3, 2013: According to a report by New Straits Times, the Federal Reserve of the United States is studying the potential risk created from online payment mechanisms like PayPal and Bitcoin. Even there are some strong regulatory environment applied to the online payment providers but the report says the relevant authorities still believe there could be some chances exist for criminals or terrorists using the services after the U.S. launched a money laundering probe against a digital currency operator, Costa Rica-based Liberty Reserve which allegedly handled huge amounts of money outside the control of national governments.