AML Audit and Remediation

Based upon a checklist of major compliance-related matters prepared by conducting an analysis of relevant laws and regulatory cases, our Practice conducts a systematic audit and gap analysis of the client’s current state of AML compliance through review of internal policies and procedures, interviews with officers and employees and on-site management due diligence.  Through such analysis, we provide internal control remediation plans and implementation measures for our clients.

Alignment of Code of Conduct and Relevant Processes

We find the best practice by comprehensively examining the FATF recommendations, the laws of Korea, as well as policies of regulatory agencies, and provides advisory services regarding internal organization, work procedures and methods for our clients’ AML compliance. 

Defense of Examinations/Investigations by Korean & Foreign Regulatory Authorities

We effectively respond to examinations and investigations by Korean and foreign financial regulatory authorities and law enforcement agencies from the very start through meticulous fact-finding and multi-pronged legal actions. 

The AML Practice advises Korean head office and overseas affiliates, branches, etc. of financial institutions and non-financial intuitions with AML compliance requirements such as domestic banks, securities companies, insurance companies, electronic financial service providers and virtual asset service providers. 

• Assisting financial institutions and virtual asset exchanges during the Financial Supervisory Services and Korea Financial Intelligence Unit inspections on breach of AML laws and regulations
• Providing compliance consulting services to financial institutions (both domestic head offices and overseas branches) in respect of compliance with sanctions laws and regulations
• Conducting independent AML audits for Korean and foreign financial institutions, electronic financial service providers and virtual asset exchanges
• Assisting financial institutions in the US law enforcement agencies’ investigations regarding violations of US sanctions
• Assisting financial institutions’ overseas affiliates in respect of compliance with local AML laws and regulations