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Korea Customs: Money laundering related to encryption accounts for more than 80% of the customs seizure amount in the past five years, approximately 6.8 billion USD.

According to Foresight News, reported by the Korea Herald TV, South Korean customs is conducting a special crackdown on illegal funds smuggling and Money Laundering activities, which involve transnational crime. Over the past five years, South Korean customs has seized approximately 11.4 trillion won (about 7.8 billion USD) in Money Laundering. Of this, 83% (nearly 10 trillion won, about 6.8 billion USD) was conducted through virtual assets. Last month, five individuals were arrested for using stablecoins such as Tether to conduct transactions worth 920 billion won (about 628 million USD) between South Korea and Vietnam. They are accused of illegally transferring funds about 78,000 times, including converting won into virtual assets and sending them. To combat such crimes, customs authorities have established a special task force to carry out stringent crackdowns.

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