A South Korean court has increased the prison sentence of a man involved in laundering $68,000 in cryptocurrency for a voice phishing gang to four years. The Suwon High Court overturned an initial suspended sentence from 2024, highlighting the defendant's significant role in the criminal operation. The court emphasized the necessity of a harsher penalty to bolster Anti-Money Laundering efforts and deter future offenses.
Prosecutors revealed that the gang impersonated officials to defraud victims, with the defendant orchestrating the laundering activities. The court cited a high risk of reoffending and underscored the importance of Countering the Financing of Terrorism in its decision to impose a stricter sentence.
South Korean Court Doubles Sentence for Crypto Laundering to Four Years
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