Money laundering is a major international issue. Countries around the world strive to combat money laundering activities. Specially, since the terrorist attacks against the United States on September 11, 2001, UN and international efforts to eliminate...
Money laundering is a major international issue. Countries around the world strive to combat money laundering activities. Specially, since the terrorist attacks against the United States on September 11, 2001, UN and international efforts to eliminate terrorism and counter terrorist financing.
Today, international cooperation is more important than ever. In order to take a more active role in international anti-money laundering initiatives, we will strengthen cooperation and facilitate information exchange with foreign financial intelligence units. Joining the global anti-money laundering effort, the Korean government established the Korea Financial Intelligence Unit in November 2001, a specialized national agency responsible for receiving, analyzing and disseminating information on suspicious transactions. The Korea Financial Intelligence Unit is to prevent money laundering associated with serious crimes and to stop the illicit cross-border flow of funds that abuses the foreign exchange liberalization policy. The Korea Financial Intelligence Unit will ensure that a comprehensive and effective system is in place to detect and monitor illegal activities associated with money laundering. With such an anti-money laundering system, we expect that the Korean financial system will become more sound and transparent.
I hope this report contribute to a better countermeasure of anti-money laundering.