South Korea logged 16,076 instances of reported crypto transactions suspected of links to activities like money laundering, market manipulation, or illicit drug trading in 2023. Authorities in the country received almost 49% more alerts of potentially suspicious transactions from crypto service providers in 20 23 compared to the previous year. The FIU attributed this rise to improved communication with domestic companies, urging them to report such activities. However, the agency refrained from providing specific information about these alerts, citing the Specified Financial Information Act.
Source: Chayanika Deka, 2024-02-19; https://cryptopotato.com/south-korean-crypto-exchanges-report-nearly-50-surge-in-suspicious-transactions-in-2023/