The Republic of Korea has become the 35th full member of the Financial Action Task Force after undergoing a rigorous review of its anti-money laundering and counter-terrorist financing regime, the Paris-based watchdog group announced Wednesday. South Korea first expressed interest in joining the Financial Action Task Force (FATF), which sets global anti-money laundering (AML) standards, more than five years ago, FATF spokeswoman Rachelle Boyle said. South Korea, a rising global economic power, joined FATF in an effort to prove to the international financial community it has a strong "culture of compliance," Boyle said. One of the United States' leading trading...
Economic sanctions expected against North Korea over its test of a nuclear bomb will likely include companies in China, South Korea, Thailand and Russia linked to trade with the communist nation, say consultants.
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