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Korean Customs Service: Illegal Money Laundering Totaled 114 Trillion KRW in the Past 5 Years, 83% Through Cryptocurrencies

2 hours ago

On November 19th, according to a report by Yonhap TV, the Korea Customs Service has initiated a special operation to combat illegal fund flows in transnational crimes. During the past 5 years, the scale of illegal "underground remittances" has reached 114 trillion Korean won, and approximately 83% of them were conducted through crypto assets. Recently, a group involved in illegal fund transfers using stablecoins (such as USDT) was arrested, and the amount involved totaled 920 billion Korean won. In addition, foreign currency smuggling has been on the rise. In the past 5 years, its scale has reached about 240 billion Korean won. The Korea Customs Service has established a 126-person team to enhance currency concealment inspections and crack down on illegal fund flows and money laundering activities.
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