8th Anti Money Laundering Day

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November 28 was the 8th anniversary of “Anti Money Laundering Day” which also is the foundation day of the Financial Intelligence Unit (FIU), a FSC-affiliated authority responsible for the prevention of money laundering and terrorist financing.

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Since the establishment, the day was celebrated every year since 2007 to raise people’s awareness and interest on combating money laundering. This year, a commemoration event was held with the presence of more than 220 figures from the financial authorities, institutions, and academic circle.

“Thanks to outstanding IT infrastructure, we could successfully implement necessary systems for fighting money laundering and we are providing assistance to developing nations to do the same. Such efforts are awarded by being appointed as the chair country of the FATF beginning from next year” FSC Chairman Shin Je-Yoon said during his congratulatory speech praising everyone’s hard work and dedication. He also raised necessity for strengthening and expanding the range of supervision to the non-banking sector as well to effectively respond to evolving money laundering cries.

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Kyongnam Bank received a presidential award for its excellent contribution in prevention of money laundering. Meritz Fire & Marine Insurance was awarded Prime Minister’s commendation, and 30 employees of Shinhan and Korea Exchange Bank was granted FSC Chairman’s award.

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