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Yulchon Advised Financial Institutions on AML System Upgrades Under Revised Regulations

2026.07.28.

Financial companies including Samsung Securities, Samsung Life Insurance, Mirae Asset Securities, Woori Bank, Hanwha Life Insurance, and Samsung Card were facing the need to modify and enhance their anti-money laundering (AML) processes and systems to reflect the recent amendments to applicable laws and strengthened regulations.


Yulchon’s Financial Regulation Team conducted a comprehensive review of these companies’ internal control systems and operational protocols, and assessed their overall AML framework to identify key areas requiring improvement. These included the enhancement of internal systems including customer due diligence (CDD), refinement of the customer risk assessment model, improvement of the transaction monitoring system, and strengthening of the enterprise-wide risk assessment (RBA) system. Based on these findings, Yulchon supported the companies in updating their AML system to incorporate statutory amendments, respond to the evolving financial environment, and meet the requirement to generate reporting data based on risk indicators under the Risk-Based Approach adopted by the Korea Financial Intelligence Unit (KoFIU).


This engagement is significant in that Yulchon, leveraging its extensive experience in AML advisory and the securities sector, as well as its deep understanding of Korean supervisory authorities’ regulatory expectations, provided the clients with tailored, practical solutions that not only ensured alignment of their AML framework with supervisory policy directions but also enhanced operational efficiency through strengthened IT infrastructure.