On March 5th, it was reported that the South Korean financial authorities plan to strengthen the anti-money laundering (AML) system in order to combat new types of financial crimes, including cryptocurrency crimes. The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) held an anti-money laundering inspection consultation meeting on March 5th and informed relevant agencies of the inspection plan. The FIU will focus on and respond to new means of money laundering, such as illegal activities carried out by means of virtual accounts and simplified transfers.