BNK Gyeongnam Bank, "Illegal Money Laundering, Don't Even Try"

'Next-Generation Anti-Money Laundering (AML) System' Launch

Active Response to AML-Related Regulations

BNK Gyeongnam Bank is making every effort to actively respond to the globally strengthening regulations related to anti-money laundering.

BNK Gyeongnam Bank has completely rebuilt and launched its next-generation anti-money laundering (AML) system.

Gyeongnam Bank Headquarters.

The next-generation AML system is designed to improve work efficiency and accuracy by systematically managing and analyzing financial transaction information to report suspicious transactions and proactively respond to money laundering risks.

In particular, digital technologies such as artificial intelligence (AI) and robotic process automation (RPA) have been applied to overcome the limitations of the existing system and maximize the effectiveness of AML operations.

Through the AI-based financial transaction analysis system applied to the next-generation AML system, BNK Gyeongnam Bank precisely evaluates the money laundering risk for each customer and applies control measures corresponding to the assessed risk level, minimizing the management burden on employees.

Additionally, to strengthen the identification and verification of corporate customers, the bank linked data with external credit rating agencies and directly contracted with global companies providing data related to money laundering crimes, thereby enhancing the soundness of global financial transactions.

This measure aims to comply with global anti-money laundering regulations and minimize risks arising from violations of sanctions, as the demand for global financial transactions from local small and medium-sized enterprises and customers increases.

Compliance Officer Executive Director Jeong Yun-man said, “Interest in strengthening the anti-money laundering system has increased recently due to various social issues. We have launched the next-generation AML system to actively respond to the strengthening of the AML system and related regulations, and we expect it will enable more effective monitoring and prevention of financial crimes.”

This content was produced with the assistance of AI translation services.