South Korean police to launch team tracing criminal proceeds, including crypto

South Korean police plan to create a dedicated financial-tracking investigation team to trace criminal proceeds, including cryptocurrency, tied to crimes that affect everyday citizens. The unit is intended to follow money flows linked to voice phishing, new scam schemes and illegal private lending, while directly investigating money-laundering offenses. Under the Virtual Asset User Protection Act, cryptocurrency used in crimes can be subject to deposit and withdrawal restrictions, giving investigators another route to track illicit funds.

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