🚀 South Korea Intensifies Crackdown on Illegal Cross-Border Fund Transfers
#SouthKorea #Crackdown #IllegalTransfers #CrossBorderFunds #TransnationalCrime #UndergroundRemittances #Cryptocurrency #Stablecoins #USDT #MoneyLaundering #ForeignCurrencySmuggling #CustomsService #CryptocurrencyCrime
According to BlockBeats, South Korea's Customs Service has launched a special operation targeting illegal cross-border fund transfers linked to transnational crime. Over the past five years, the scale of illegal 'underground remittances' has reached 11.4 trillion Korean won, with approximately 83% of these transactions conducted through cryptocurrencies. Recently, authorities apprehended a group involved in the illegal transfer of funds using stablecoins like USDT, amounting to 920 billion Korean won.
Additionally, the smuggling of foreign currency has been on the rise, with a total of around 240 billion Korean won involved over the past five years. In response, the Customs Service has assembled a team of 126 members to enhance the monitoring of concealed currency activities and combat illegal fund transfers and money laundering.#SouthKorea #Crackdown #IllegalTransfers #CrossBorderFunds #TransnationalCrime #UndergroundRemittances #Cryptocurrency #Stablecoins #USDT #MoneyLaundering #ForeignCurrencySmuggling #CustomsService #CryptocurrencyCrime
🚀 South Korea Enhances Training for Trade Crime Investigations
#SouthKorea #TradeCrime #VirtualAssets #CustomsService #JudicialPolice #ForeignExchange #MoneyLaundering #Cryptocurrency #VirtualAssetTracking #Investigations #TrainingSystem
South Korea's Korea Customs Service is revamping its training system for special judicial police to improve the handling of evolving trade crime investigations. According to NS3.AI, the redesign focuses on foreign exchange investigations involving virtual assets, with improved education and on-the-job training at customs offices. A new long-term course will be introduced, concentrating on virtual asset tracking, analysis, and investigative case studies to combat illegal currency exchange and money laundering using cryptocurrencies.#SouthKorea #TradeCrime #VirtualAssets #CustomsService #JudicialPolice #ForeignExchange #MoneyLaundering #Cryptocurrency #VirtualAssetTracking #Investigations #TrainingSystem
🚀 South Korea Takes Steps to Combat Illegal Cross-Border Transfers Linked to Virtual Assets
#SouthKorea #illegaltransfers #virtualassets #FinancialSupervisoryService #CustomsService #CreditFinanceAssociation #cardcompanies #voicephishing #crimes
South Korea's Financial Supervisory Service and Customs Service have entered into a memorandum of understanding with the Credit Finance Association and nine domestic card companies to address illegal cross-border transfers associated with virtual assets. According to NS3.AI, the agreement, signed on March 17, aims to integrate overseas card usage data with immigration records. The initiative is designed to disrupt funding channels for voice phishing and crimes related to virtual assets.#SouthKorea #illegaltransfers #virtualassets #FinancialSupervisoryService #CustomsService #CreditFinanceAssociation #cardcompanies #voicephishing #crimes