South Korea’s Financial Intelligence Unit (FIU) has imposed an institutional warning and fines totaling ₩27.3 billion ($1.89 million) on Korbit, citing widespread violations of the country’s anti-money laundering (AML) regulations. In a statement, the FIU said it had identified multiple breaches following a comprehensive on-site inspection of the cryptocurrency exchange conducted between October 16 and October 29, 2024. Thousands of AML Breaches Identified According to the FIU, Korbit committed approxi ...