South Korea FIU fines Korbit ₩27.3B ($1.89M) over AML violations

South Korea's Financial Intelligence Unit issued an institutional warning and fines totaling ₩27.3 billion ($1.89 million) to crypto exchange Korbit after an on-site inspection conducted October 16–29, 2024. According to the FIU, roughly 22,000 AML breaches were found, spanning customer identification failures, transaction-restriction gaps, transfers via unregistered overseas platforms, and deficient risk assessments for new products.