Spokesman for the Korean Ministry of Finance and Economy, Lee Chul-hui revealed on Tuesday that a memorandum of understanding (MOU) designed to prevent international money laundering has been signed with Belgium.
Mr Lee announced that the MOU had been signed in Brussels by Shin Dong-kyu, the head of the Korean Financial Intelligence Unit (KFIU), and his Belgian counterpart, Jean Spreutels, the head of the Belgian Financial Intelligence Processing Unit.
In addition to containing provisions for the exchange of information in cases of suspected money laundering and terrorist financing, the MOU calls for higher levels of training in the financial sectors of both countries in order to eradicate the problem.
Mr Lee revealed that this is the first such agreement which has been signed by the KFIU since its launch in November 2001, but that the Unit is now actively pursuing similar MOUs with the United States, the UK, Hong Kong, and Japan.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment