Korea Financial Crime Prevention Association to Hold 'Virtual Asset Crime Tracking Seminar' for Police Investigators

The Korea Financial Crime Prevention Association will hold a 'Virtual Asset Crime Tracking Seminar' for police investigators on the 10th.

This seminar will provide hands-on professional education and share knowledge aimed at improving the response capabilities of over 200 field investigators nationwide against crimes using virtual assets (cryptocurrencies).

As cases of virtual assets being used for concealing crime proceeds and money laundering in drug, gambling, and sex trafficking crimes have recently surged, it is becoming increasingly important to enhance analysis capabilities based on the transaction flows and characteristics of domestic criminal organizations and to deliver practical tracking techniques to field investigators.

Despite the advanced capabilities of global virtual asset analysis companies, there are limits to analyses tailored to the local situation, making collaboration between domestic private analysis experts and investigative agencies even more critical.

This seminar featured a large number of private experts in the field of virtual asset investigation and analysis, sharing case studies focused on field experiences.

Sungjae Kim, an investigator at the Seoul Metropolitan Police Agency, delivered a presentation on 'Methods and Cases of Money Concealment Using Virtual Assets,' while Minseong Gil, section chief, presented on 'Virtual Assets and Online Drug Crimes.'

From the private sector, digital asset compliance specialist Bonanza Factory participated to offer technical countermeasure proposals. Taewoo Han, Director of Bonanza Factory, shared on 'Collection and Tracking of Virtual Asset Exchange Transaction Information,' including case studies of collaborations with investigative authorities and methods of exchange-based data analysis. Youngseok Kim, CEO, presented on 'The Latest Trends and Cases in Virtual Asset Crime,' explaining recent domestic cases, characteristics, and private-sector counter-strategies.

In the ensuing panel discussion, Professor Junbae Seo of the Korean National Police University and Cheolsu Ko, specialist at Kim & Chang, along with other experts, discussed policy and technical measures to counter virtual asset crimes.

A representative of the Korea Financial Crime Prevention Association stated, "This seminar will contribute to strengthening the field's response capabilities to increasingly sophisticated virtual asset-based crimes and to enhancing cooperation with private technologies," adding, "Going forward, the association will continue to take the lead in building a sound virtual asset ecosystem through cooperation with investigative authorities, private companies, and academia."