South Korean authorities have arrested 16 people suspected of facilitating illegal foreign exchange transactions as part of the Kimchi Premium arbitration “. Seoul Daily News writes about this.
According to the publication, 75% of offenses in the field of capital withdrawal from the country and money laundering are associated with cryptocurrencies.
Two arrested face prosecution, seven – fines , while no decision has yet been made on the rest.
One of the detainees is suspected of creating several one-day companies in order to send funds abroad. In fact, we are talking about the transfer of digital assets from foreign accounts and their profitable sale on local exchanges thanks to the “kimchi premium”, the journalists say.
Another arrested person is suspected of using import operations to mask transactions with cryptocurrencies.
Recall that in August, during the investigation of such offenses, the FSS estimated the volume of foreign transfers to crypto exchanges at $6.5 billion.
in October 2021.
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