The Financial Intelligence Unit (FIU) of South Korea strengthens anti-money laundering regulations for virtual assets

ChainCatcher news, according to the Korea Economic TV, the Financial Intelligence Unit (FIU) under the Financial Services Commission of Korea held a "Anti-Money Laundering Trustee Meeting" to discuss regulatory plans against new types of money laundering methods such as virtual asset trading.

The FIU will focus on cracking down on money laundering activities using virtual accounts and simple remittances, conducting special operations once a month to analyze suspicious transactions related to crimes such as voice phishing, pyramid schemes, and gambling targeting vulnerable groups. The Financial Supervisory Service stated that it will strengthen inspections of companies with insufficient implementation of anti-money laundering systems and promote cooperation between consumer protection departments and anti-money laundering departments.