Korean Government to Inspect Foreign Banks for Potential Money Laundering

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Saturday, May 1, 1993
Author: 
Kimberly Jeneece Jenkins
Volume: 
9
Issue: 
5
171
Abstract: 
On April 12, 1993, Chairman of the Board of Audit and Inspection, Yi Hoe-chang, at the National Assembly in Seoul, Korea indicated that foreign banks in Korea are a haven for black money. Mr. Yi made this statement during a report to lawmakers regarding the progress of the audit of 114 executives of state run banks…[more]