The KoFIU held the 16th anti-money laundering (AML) commemoration day event on November 28, which is an annual event held to raise the awareness on AML controls and procedures and to award those who made contributions to the country's AML efforts. FSC Chairman Kim Joo-hyun attended the event and delivered welcoming remarks. In his speech, Chairman Kim said that the current AML regulatory framework, which makes up an integral part of Korea's financial system, has been made possible by persistent efforts of the KoFIU, especially with the enactment of the Act on Reporting and Using Specified Financial Transaction Information in 2020. As such, Chairman Kim urged the KoFIU to continue to grow as a globally trusted AML agency by keeping close tabs on evolving technologies and mechanisms that are used in money laundering and other illicit activities such as decentralized finance (DeFi) and virtual assets.