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Article: SEOUL TO JOIN EGMONT GROUP TO FIGHT MONEY LAUNDERING.
- Article from:
- AsiaPulse News
- Article date:
- May 27, 2002
CopyrightCOPYRIGHT 2002 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)
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SEOUL, May 27 Asia Pulse - South Korea will soon join the Egmont Group, a body dedicated to eradicating money laundering that unites financial intelligence units (FIUs) from 58 countries, a Ministry of Finance and Economy official said Monday.
"We hope that the Korean Financial Intelligence Unit (KFIU) will be able to join the Egmont Group at its general assembly in Monaco June 5," KFIU Commissioner Shin Dong-kyu said.
Egmont Group conducted preliminary examinations of the KFIU and Korea's anti-money laundering system over the past months and concluded the operations and functions met international standards, Shin said.
The 23 FIUs from Asia ...