|
|
Article: KOREAN GOVT TO APPLY FOR MEMBERSHIP OF FATF, EGMONT GROUP.
- Article from:
- AsiaPulse News
- Article date:
- February 16, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SEOUL, Feb 16 Asia Pulse - The Finance and Economy Ministry said Friday it it will apply for membership in the Financial Action Task Force on Money Laundering (FATF) and the Egmont Group in the first half of this year.
The action will take place after the National Assembly passes two bills that regulate money laundering this month.
They will take effect in mid-April and enable the government to form a financial intelligence unit (FIU) that is to provide information on financial crimes to the National Police Agency.
"When Korea applies for membership this year, the FATF would accept the nation next year after an evaluation process," a ministry ...