Wu Blockchain has learned that the Financial Intelligence Unit (FIU) of South Korea reported the results of a comprehensive anti-money laundering inspection of the virtual asset exchange Korbit. It revealed violations of the *Act on Reporting and Using Specified Financial Transaction Information*, including breaches of customer due diligence obligations, transaction restriction obligations, a ban on transactions with unregistered overseas virtual asset service providers, and failure to conduct money laundering risk assessments for new businesses like NFTs. The FIU decided to issue an institutional warning to Korbit and impose a fine of 2.73 billion KRW (approximately $1.88 million). Additionally, the representative director received a cautionary disposition, and the reporting officer was reprimanded. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=54416