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

BlockBeats News, November 19th, according to a report by Yonhap TV, the Korea Customs Service has launched a special operation to combat illegal fund flows in transnational crimes. Over the past 5 years, the scale of illegal "underground remittances" has reached 114 trillion Korean won, with approximately 83% conducted through crypto assets. Recently, a group involved in illegal fund transfers using stablecoins (such as USDT) was arrested, with the amount involved totaling 920 billion Korean won.

In addition, foreign currency smuggling has been on the rise, reaching a scale of about 240 billion Korean won in the past 5 years. 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.