US EditionSouth Korea Fines Dunamu $24M over KYC Failures
5 Articles
5 Articles
연합뉴스-Yonhap News Agency
Naver(Seoul = Yonhap News) Reporter Lim Ji-woo = The Financial Intelligence Unit (FIU) under the Financial Services Commission has imposed a fine on Dunamu, the operator of Upbit, a virtual asset exchange, for violating customer due diligence obligations, etc.
The Korean financial authority sanctioned the Upbit operator, imposing the million-dollar fine for more than eight million violations of the principles established by the Financial Information Act. *** FIU imposes a $24 million fine on Dunamu for massive violations More than 8.6 million user identity verification failures The case marks a new regulatory offensive against exchanges in South Korea South Korea fined Dunamu for $24 million Upbit ope…
South Korea’s FIU Hits Dunamu with ₩35.2 Billion Fine Over AML Failures
South Koreas Financial Intelligence Unit (FIU) has imposed a record ₩35.2 billion fineabout $26 millionon Dunamu Inc., the operator of cryptocurrency exchange Upbit, for what regulators described as systemic failures in anti-money laundering (AML) compliance. The penalty, announced Thursday, follows months of investigation and multiple disciplinary hearings, marking one of the most severe enforcement actions ever taken against a domestic virtual…
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