Minister of Finance and Economy Koo Yun-cheol / Yonhap
Korea’s financial regulators issued stronger warnings Friday against illegal foreign exchange activity and the spread of false information, urging swift enforcement and closer coordination among agencies.
The Ministry of Economy and Finance chaired a meeting of the pan-government task force on illegal foreign exchange transactions at the Korea Federation of Banks building.
The meeting included officials from the National Intelligence Service, National Tax Service, Korea Customs Service, Bank of Korea and the Financial Supervisory Service.
The ministry cited a case Thursday in which it filed criminal complaints against individuals accused of spreading false information, warning that such actions not only have the potential to destabilize financial markets but also erode the credibility of government policy.
It said agencies should promptly share information on cases involving market disruption, including the dissemination of false information, and refer such matters to the police for thorough investigation.
The ministry also called on institutions in the task force to use their data and expertise to detect illegal foreign exchange activities, including underground remittances conducted outside the banking system and money laundering.
The task force, launched Jan. 15 to respond to increasingly complex illegal foreign exchange transactions, held its third meeting on Friday.
This article was published with the assistance of generative AI and edited by The Korea Times.
