Korea AML Specialist (TPAC) case studies
Korea AML Specialist (TPAC) · Put your knowledge to work in context.
The Korea AML Specialist (TPAC) is a professional credential for anti-money-laundering practitioners working with Korean financial institutions, virtual-asset service providers, and compliance functions. It signals that a candidate can apply Korea's AML/CFT legal framework, international standards such as the FATF Recommendations, and operational reporting duties in day-to-day compliance work. The Korea AML Specialist (TPAC) case studies are 5 cases and about 3,309 words.
1Beneficial Ownership Behind a Nominee and Family Trust
Hanbit Trading Co., Ltd., a Korean importer of consumer electronics, applies to open a won account at a commercial bank. Its shareholder register shows 40% held by Silverline Holdings Ltd.
651 words, about 3 min2Cash Deposits Just Below the CTR Threshold Across Branches
At a savings bank branch in Incheon, a 68-year-old retired schoolteacher, Ms. Choi, makes cash deposits of KRW 9.5 million on five consecutive business days.
685 words, about 3 min3UN Sanctions Hit, a Vessel, and a 16:00 Payment Deadline
On a Friday afternoon, the trade finance desk of a Korean bank receives a request to release USD 2.4 million to a UAE shipping company, Gulf Horizon FZE, under a charterparty for the vessel MV SEA BREEZE (IMO 9876543). The bank's name-screening system generates a 91% match between Gulf Horizon's majority shareholder, Ahmed Al-Rashid, and a UN Security Council consolidated list entry with the same name but a different date of birth and nationality.
655 words, about 3 min4Travel Rule Gap and Sub-Threshold Virtual Asset Transfers
BitNow Korea, an FIU-registered virtual asset service provider, receives an incoming transfer of 4.2 BTC (about KRW 380 million) from a Singapore-based exchange for a customer, Mr. The transfer message includes only the sender's name 'Jung' and the Singapore exchange's name; the beneficiary wallet address is a BitNow-hosted wallet, but the sender's wallet address is missing.
643 words, about 3 min5Independent Testing That Was Neither Independent nor Risk-Based
At a mid-sized savings bank with 38 branches, the 2024 AML independent test was performed by the internal audit team that had designed the bank's CDD procedures in 2022. The test sampled 60 files, all from the low-risk retail segment, and found a 0% error rate.
675 words, about 3 min