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South Korean police have referred eight people to prosecutors in connection with a payment fraud case involving Gmarket customer accounts, alleging that the individuals helped launder criminal proceeds by providing bank accounts used to receive and move funds generated through unauthorised transactions. Investigators have yet to identify the hacker believed to have organised the original scheme and are continuing to trace the movement of the proceeds. The case relates to unau

South Korea’s Supreme Court has established that operators of unlawful online gambling platforms can be held criminally responsible for violations of data protection laws when they acquire and use personal information obtained through illegal means. The ruling clarifies that individuals involved in illicit gambling operations are not exempt from liability under privacy legislation simply because the information was used within the context of an illegal enterprise. The decisio

South Korea’s financial authorities have imposed a 5.2 billion won penalty alongside a three-month partial suspension of operations on the cryptocurrency exchange Coinone after uncovering widespread deficiencies in its anti-money laundering controls. The action follows an extensive investigation conducted by the Financial Intelligence Unit, which identified roughly 70,000 cases in which the platform failed to properly verify user identities in accordance with national legal r