South Korea's FIU presents best practices at 2026 Egmont Group plenary

South Korea's Financial Intelligence Unit, an arm of the Financial Services Commission, announced Monday that it attended the 2026 Egmont Group plenary held over six days in Baku, Azerbaijan, beginning July 5 (local time), and presented a best-practice case study at the gathering.

The Egmont Group is an international body established in June 1995 to promote cooperation among national financial intelligence units, including the exchange of financial transaction information for anti-money laundering (AML) and countering the financing of terrorism (CFT) purposes. It currently has 182 member countries.

At the plenary, representatives from member countries discussed a range of strategic initiatives to combat illicit financial threats, with in-depth sessions covering ways to strengthen global information capacity through cross-border public-private partnerships, AI risks and outlook, and strategies for preparing for mutual evaluations.

The FIU used the gathering to identify the latest money laundering and terrorist financing trends and draw policy lessons applicable to its ongoing priorities — including the introduction of a preemptive transaction-suspension system for suspicious accounts and the development of an AI-based screening and analysis system. At the Asia-Pacific Regional Group meeting on Tuesday, the FIU delivered a special presentation at the Egmont Secretariat's request, sharing its best-practice investigation support case under the theme "The 2023 Stock Price Crash and KoFIU's Role."

<style ref="s1">The FIU has been working to modernize its AML and CFT regime, including by pursuing a certification program for outstanding AML training curricula and evaluations of qualifications and professional education to develop specialized AML personnel.</style>

"We will continue to actively engage on the international stage, sharing information and experience with other countries to expand mutual cooperation," said Kang Seong-gi, head of the FIU's screening and analysis division. "Based on the principle of 'no borders for money laundering, no borders for cooperation,' we will respond to illicit finance firmly and strictly."