South Korea Reviews $600 mln Laundering with Cryptocurrency
February 1, 2018
Korea Customs Service (KCS) mounted investigation of large-scale money laundering with total amount of about 637.5 bln wons (approx. $600 mln). As it was noted, criminals used cryptocurrencies along with other ways for personal gain.
As reported, the case documents did not declare identities of suspects yet described the passage of criminal events as well as methods and schemes they resorted to during the process. For instance, KCS has found the fact of exchange to the tune of $444 mln between South Korean and Australian users. It was conducted in parts during the period from March to December last year via digital currencies.
Service official claimed, KCS has initiated active search activities for suspects and is making every possible effort to avert other illegal actions with cryptocurrency such as drug trade.
Let us remind you that ban on anonymous digital currency trading at local platforms has come into effect on January 30.