Feed / Enforcement & compliance
South Korean police investigate KRW28.7bn casino laundering allegations
By SectorWire desk ·
Summary
South Korean police suspect 54 people of laundering KRW28.7bn in investment-fraud proceeds through domestic casinos, citing local media. Busan Metropolitan Police said 14 suspects, including the alleged leader, were referred to prosecutors and held in custody.
Why it matters
The investigation concerns alleged use of South Korean casinos to launder investment-fraud proceeds.