NongHyup Cooperative Unprepared for Illegal Money Laundering... Last Place in Annual Evaluations

The Union Only Takes Complacent Measures Like Cyber Education Instead of Training Experts

Yoon Jae-gap, Member of the Democratic Party of Korea (Haenam·Wando·Jindo) / ⓒ Asia Economy

[Asia Economy Honam Reporting Headquarters Reporter Kim Hyun] According to data submitted by the Financial Supervisory Service to National Assembly member Yoon Jae-gap (Democratic Party, Haenam·Wando·Jindo) of the Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee, the Nonghyup cooperatives have ranked at the bottom in the comprehensive evaluation of anti-money laundering system implementation over the past four years.

Anti-money laundering refers to activities aimed at preventing the laundering of illegal funds domestically and internationally. Financial authorities conduct an annual comprehensive evaluation of 'anti-money laundering system implementation' to enhance the capability of anti-money laundering operations. In this evaluation, the Nonghyup cooperatives remained in the bottom ranks, placing 7th to 8th, for four consecutive years from 2016 to 2019.

National Assembly member Yoon Jae-gap emphasized, "Despite this situation, the Nonghyup cooperatives are only taking complacent measures such as cyber education instead of systematic training like supporting the acquisition of professional certifications," and added, "Measures should be prepared at a level that can cultivate experts in this field."

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