KoFIU

Legal·Institutional Tool to Detect·Prevent ML

Punishing ML as an Independent Crime

Reporting to KoFIU based on Reasonable Grounds to Suspect ML Offense

Objective Reporting of Currency Transaction Above a Threshold

Paying Keen Attention to Customers to Prevent Misuse of Financial Transaction or Financial Services to Illicit Activity

Confiscating Laundered Asset, Proceeds, Tools, or Property Equivalent to their Asset

Prohibiting Financing of Terrorism and Proliferation of Weapons of Mass Destruction

Designating Persons or Entities subject to TF/PF Regulation for International Peace and Security

FTRA Defines Proliferation Financing as ‘Criminal Proceeds’ Subject to STR

AML International Organization (FATF, Egmont, APG, UN) and Korea’s Membership

FATF Recommendations and UN Conventions, the most extensive and powerful ML/TF international standards

UN Convention against Transnational Organized Crime(2000), UN Convention against Corruption(2003), UN International Convention for the Suppression of the Financing of Terrorism(1999), etc.

AML International Standards Published by FATF, Egmont, APG, UN, etc.

FATF, Egmont, APG Annual Report etc. International Insights