The number of cases of suspected money laundering reported by financial service companies increased sharply this year, the Korea Financial Intelligence Unit said.
According to the agency, which work under the ministry of finance, the number of cases stood at 1,558 in the first three months of this year, up 270 per cent from a year earlier.
The agency said that the increase was due to the scope of reporting being widened from suspicious financial transactions of at least 50 million won to suspicious transactions of at least 20
million won, at the start of this year.
Source: Joong Ang Daily
