South Korean police to bolster crypto fund tracing in crime probes

South Korean police plan to strengthen their ability to trace criminal proceeds, including cryptocurrency, by launching a dedicated investigative team to track money flows tied to crimes that harm everyday citizens, such as voice phishing, new scam schemes and illegal private lending, Money Today reported. As cryptocurrency can be subject to deposit and withdrawal restrictions under the Virtual Asset User Protection Act when used in crimes, police plan to use the new financial-tracking investigation team to directly investigate money-laundering offenses and trace the flow of criminal funds.