FSS Holds Internal Control Workshop on Anti-Money Laundering for Electronic Financial Industry

The Financial Supervisory Service (FSS) announced on the 8th that it held an internal control workshop on anti-money laundering (AML) for the electronic financial industry.

At the event, more than 80 AML officers, including reporting executives and managers from 46 electronic financial companies, attended. The FSS conveyed the major money laundering risk factors and common deficiencies identified through document inspections and on-site examinations of electronic financial companies.

Lee Myung-soon, Senior Deputy Governor of the FSS, urged, "Please strengthen the management's awareness of the importance of AML tasks and faithfully fulfill AML obligations through the effective operation of internal control systems."

On the same day, KakaoPay and Naver Financial also shared their AML operation cases. KakaoPay shared a case of strengthening foreign customer verification using optical character recognition (OCR) and facial recognition technology, while Naver Financial introduced a case of advanced suspicious transaction monitoring using artificial intelligence machine learning.

The FSS plans to continue supporting the enhancement of AML capabilities in the electronic financial sector from multiple angles, considering its uniqueness and importance, while simultaneously conducting on-site inspections and encouraging voluntary improvements.

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