South Korea Anti-Money Laundering Legislation

South Korea enacted the Financial Transaction Reports Act and Proceeds of Crime Act in September 2001. The laws are aimed at combating money laundering and the financing of terrorism.

The following questions have been addressed in this article:

What is the Suspicious Transaction Reporting System ?
What are the features of The Proceeds of Crime Act?
What was the impetus for the Proceeds of Crime Act?
Who is subject to the anti-money laundering laws?


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