written and last updated by
Sam Smith at
22 Aug 2025
Journalist, Editorial Department
South Korea's Customs Service has dismantled an underground network accused of illegal money transfers linked to gambling activities. Reports from local media indicate that ten individuals have been arrested in connection with the case, and they are currently under investigation by the Seoul Central District Prosecutor's Office for violating currency exchange regulations.
According to the Customs Service, the suspects facilitated unauthorized exchanges amounting to approximately 137 billion Korean won (around $104 million). They reportedly received funds for gambling in cash and through bank transfers, converting the money into U.S. dollars before smuggling it out of the country in golf bags and regular luggage.
Authorities believe the suspects were involved in illegal gambling operations abroad. Investigators are now working to trace the sources of the funds and identify the individuals who initiated these transactions.
It is estimated that each courier transported around $200,000 (approximately 16 million rubles) per trip, with the group making a total of 519 trips to the Philippines.
Under South Korean law, unauthorized export of funds abroad is considered a serious offense, particularly when linked to gambling activities. The government maintains strict oversight of illegal capital flows.
Notably, local casino operators in the Philippines have formed an alliance aimed at enhancing security within the industry.
