Report: Banks Are More Vulnerable to Terrorist Financing Than Crypto14.37

A risk assessment report released by the Financial Information Unit (FIU) found banks more vulnerable to money laundering and terrorist financing risks than cryptocurrencies, Business Korea reported.

The division of South Korea’s Financial Services Commission researched its domestic financial sector, which includes banks, securities companies, insurers, mutual financing companies, credit card services, and even crypto exchanges. After a thorough assessment, it found that while banks had better systems to repel money laundering and terrorist financing activities, they were yet more exposed to them than any other financial business.

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