The plan was announced in response to the death of a small business owner who committed suicide after he was scammed out of more than KRW 160 million.
The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.
This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.
Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.
Russia made USD 100 million in payments due on 27 May to Euroclear, but the funds were not delivered to investors due to sanctions.
When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.
The government acknowledges that the VASP regime will be more rigorous and comprehensive than those in Singapore, UK and Japan.
Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.
PPPs provide the most direct and impactful opportunity for FIs to collaborate with public sector stakeholders to identify and address financial crime risks.
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