The Korea Financial Intelligence Unit (KoFIU) held the 19th annual anti-money laundering commemoration day event on November 28. At the event, awards were presented to 7 organizations and 26 individuals who have made contributions to the strengthening of Korea's AML efforts for this year. Chairman Lee Eog-weon of the Financial Services Commission attended the event and delivered a commemorative speech highlighting the importance of boosting AML capacity in transborder crimes and virtual asset transactions. To more effectively cut off the flight of criminal proceeds at the investigation stage, Chairman Lee said that the government will introduce measures to effectively freeze account activities on suspicious accounts. Through close cooperation and coordination with overseas counterparts, Chairman Lee vowed to strengthen international cooperation on transborder cyberscams and illicit transactions. Chairman Lee also said that the government will look into ways to expand the application of the travel rule for external transfers of virtual assets from the current level of KRW1 million and above to the transactions involving less than KRW1 million.