Enhancing Security: Coinone’s Commitment to Anti-Money Laundering

Coinone is a cryptocurrency exchange that prioritizes the enhancement of its advanced anti-money laundering (AML) system.  From the outset, they recognized the significance of AML and implemented various measures to address it. These measures included establishing competent bodies, developing domestic policies, and building robust systems. Coinone also established an Anti Money Laundering Control center to actively monitor suspicious transactions and report them to the Financial Intelligence Unit. Their commitment to combating AML has positioned them at the forefront of such efforts, and they are acknowledged for having a sophisticated anti-money laundering system comparable to that of traditional financial institutions. In 2022, Coinone made significant industry strides by becoming the first exchange operators to switch their affiliated accounts to real name accounts with KakaoBank. This move broke the trend of short-term partnerships and underlined Coinone’s dedication to compliance and security.

Furthermore, Coinone subjects itself to inspections during contract renewals, further emphasizing their commitment to maintaining a robust AML system. To reinforce their AML capabilities, Coinone continues to expand its dedicated AML team by recruiting experts from both traditional financial and virtual asset sectors. They offer substantial support to AML personnel in obtaining certifications and specialized education, exceeding the recommended AML education hours set by the FIU. Coinone remains committed to increasing the number of AML workers and sustaining their compliance efforts.

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