Korea Customs Service: Over the past five years, illegal money laundering amounted to 11.4 trillion won, with 83% conducted through crypto assets.

PANews reported on November 19th that, according to Yonhap TV, the Korea Customs Service has launched a special operation targeting illicit financial flows in transnational crimes. Over the past five years, illicit underground remittances have reached 11.4 trillion won, with approximately 83% conducted through crypto assets. Recently, a group using stablecoins (such as USDT) for illicit fund transfers was arrested, involving 920 billion won. Furthermore, foreign currency smuggling is also on the rise, amounting to approximately 240 billion won over the past five years. The Customs Service has formed a 126-person team to strengthen currency concealment inspections and combat illicit financial flows and money laundering.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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