Prosecutors are also hoping to uncover the source and destination of the laundered funds using the virtual currency tracking software. virtualcurrency moneylaundering
, prosecutors are hoping that the software will allow them to extract the history between wallets under investigation and crypto exchanges. They also hope to uncover the source and destination of the laundered funds using the software.The plan by the Seoul Central District Prosecutors Office to acquire computer software to aid its investigations comes shortly after South Korea’s Financial Supervisory Service revealed that five major commercial banks were involved in the money laundering case.
In addition to the money laundering charges, the Kmib report says South Korean financial authorities also believe there is a tax evasion angle to the case, hence the roping in of the country’s tax body.
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