Huobi Korea plans to strengthen AML protections

Friday 22 February 2019 13:40 CET | News

Huobi Korea, the South Korea-based crypto exchange, has recently strengthened its anti-money laundering (AML) protections.

Huobi Korea launched its services in 2018, however, it has reviewed its deposit and withdrawal processes, and fiat-to-crypto oversight. As part of its plan, the company will closely monitor any transactions that might seem suspicious, and regularly update its fraud detection system algorithms.

The exchange is also considering to launch an inter-exchange hotline, aiming to prevent identity theft, voice phishing, and other types of fraud. Moreover, the measures were taken to abide by the regulations and guidelines of the Korean Financial Services Commission (FSC).

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Keywords: Huobi Korea, AML, protections, cryptocurrency, exchange, Fiat, withdrawal, fraud detection, identity theft, voice phishing
Countries: World

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