South Korea to Strengthen Anti-Money Laundering Measures for Crypto Crimes

In Brief

South Korea’s Financial Intelligence Unit (FIU) is enhancing its anti-money laundering (AML) system to combat crypto-related financial crimes.

New measures will target illegal activities using virtual accounts and simplified transfers.

‍

South Korea’s Financial Services Commission (FSC) is ramping up its anti-money laundering (AML) enforcement, particularly focusing on cryptocurrency-related crimes. The Financial Intelligence Unit (FIU) held an AML inspection consultation meeting on March 5, outlining plans to crack down on new financial crime tactics.

Authorities will target money laundering methods involving virtual accounts and simplified transfers, which have become common tools for illicit financial activities. This initiative reflects South Korea’s continued regulatory tightening on the crypto sector, as the government seeks to strengthen oversight and compliance in digital asset markets.

‍