South Korea’s Financial Intelligence Unit (FIU) is coordinating a task force involving 16 financial-sector institutions and groups to strengthen anti-money laundering (AML) controls across banks, non-bank firms and fintech companies. The initiative follows a national risk assessment and requires financial firms to conduct regular self-assessments, direct staff, budgets and IT resources toward vulnerable areas, and improve data quality and suspicious transaction detection. Sector associations and federations will share cases and global trends, provide standard AML guidelines to smaller and newer firms, develop sector-specific Suspicious Transaction Report (STR) detection rules, build shared systems, support external audits, shift training toward real cases, and expand specialized examinations, sanctions and management accountability. The FIU also plans to encourage dedicated AML departments and higher-ranking reporting officers outside the banking sector, while promoting AI-based detection and hybrid IT and data-analysis expertise. The effort reflects growing concern that fragmented payment chains involving banks, platforms and non-bank payment providers can obscure the origin and purpose of funds.