KoFIU

Korea’s AML/CFT regime is based on the Financial Transaction Reports Act (FTRA) and Act on Prohibition against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction.
The Financial Transaction Reports Act serves as a legal ground of KoFIU’s foundation and operation, and ensures preventive measures by requiring FIs to implement CDD, STR, CRT, etc.
The Act on Prohibition against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction stipulates punishment of terrorism financing activity and financial transaction with restricted individuals, legal persons and entities without seeking FSC’s prior approval.

Statutes

• Financial Transaction Reports Act (FTRA)

  Kor Eng

• Enforcement Decree of the Financial Transaction Reports Act (FTRA)

  Kor Eng

• Act on Prohibition against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction

  Kor Eng

• Enforcement Decree of the Act on Prohibition against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction

  Kor Eng

Regulation

• Financial Transaction Report and Supervision Regulation

  Kor Eng

• Monitoring and Sanctioning Regulation on Financial Transaction Report and Supervision

  Kor Eng

• Business Regulations on Anti-Money Laundering and Anti-Terrorism Financing

  Kor Eng

• Regulations on Prohibition against the Financing of Terrorism

  Kor Eng

• Regulations on the Designation/Revocation of Persons Subject to Restrictions on Financial Transactions, Etc.

  Kor Eng