🚀 South Korean Customs Uncovers International Money Laundering Network Involving Cryptocurrency
#SouthKorea #Customs #MoneyLaundering #Cryptocurrency #InternationalCrime #ForeignExchangeTransactionsAct #Prosecutors #CryptocurrencyNetwork #FinancialCrime #RegulatoryEvasion
According to ChainCatcher, South Korean customs authorities have dismantled an international money laundering network that allegedly used cryptocurrency transactions to launder approximately $101.7 million. The network operated from September 2021 to June 2025, disguising transactions as legitimate expenses such as cosmetic surgery or tuition fees. Three suspects have been handed over to prosecutors, accused of violating the Foreign Exchange Transactions Act. The individuals involved purchased cryptocurrency assets from multiple countries, transferred them to wallets in South Korea, and converted them into local currency. The funds were then distributed across various South Korean bank accounts to evade regulatory scrutiny.#SouthKorea #Customs #MoneyLaundering #Cryptocurrency #InternationalCrime #ForeignExchangeTransactionsAct #Prosecutors #CryptocurrencyNetwork #FinancialCrime #RegulatoryEvasion