TechFlow news — On March 5, according to the Korea Economic Television, the Financial Intelligence Unit (FIU) under South Korea's Financial Services Commission held a "Trustee Meeting on Anti-Money Laundering Inspections" to discuss regulatory plans targeting emerging money laundering methods such as virtual asset transactions.
The FIU will focus on cracking down on money laundering activities conducted through virtual accounts and simplified remittance services. It will conduct monthly special operations analyzing suspicious transactions related to crimes such as vishing scams targeting vulnerable groups, pyramid schemes, fraud, and gambling. The Financial Supervisory Service stated it will strengthen inspections of companies with inadequate anti-money laundering compliance and promote collaboration between consumer protection departments and anti-money laundering units.
