Anti-Money Laundering

Money laundering is “the process of hiding the illegal source of assets and disguising them as legitimate assets.” It refers to the process of disguising assets contaminated by criminal activity
as clean assets. The core of the anti-money laundering system is the criminalization of money laundering, Know Your Customer (KYC), Suspicious Transaction Report(STR), and Currency Transaction Report (CTR) under the Specific Financial Information Act.

Domestic Laws

- Act on reporting and using specified financial transaction information and enforcement
   decree of the same act.
- Act on prohibition against the financing of terrorism and proliferation of weapons of mass
   destruction and enforcement decree of the same act.
- Act on regulation and punishment of criminal proceeds concealment.
- Financial Transactions Report and Supervision Regulation.
- AML/CFT Regulation etc.

Business