Finastra and risk and compliance solutions provider UNITAS are now partners who will promote Finastra’s Kondor treasury solution across South Korea, officials say. The partnership is intended to combine Finastra’s Kondor trading system with UNITAS’s local expertise and experience with financial institutions, officials say. The effort will target banks that want to digitally transform and… Read More >>
Korean Bank Faces $86M in Fines & Criminal Charges
Criminal charges have been filed against the Industrial Bank Of Korea (IBK) for violations of the Bank Secrecy Act (BSA), according to the Manhattan U.S. Attorney, who notes that the charges will be “deferred for two years” under an agreement in which IBK “admitted its conduct and agreed to pay $51 million.” In addition, the… Read More >>
South Korea May Ban Bitcoin Trading as CFTC Gives Wary Approval
While U.S. and European regulators are mulling over what to do with bitcoin, the South Korean government, which is home to the world’s third largest cryptocurrency market, is planning to crack down on crypto currency trading. At a press conference, Park Sang-ki, justice minister for South Korea, said, “There are great concerns regarding virtual currencies… Read More >>
