Korea AML Specialist (TPAC) study guide
Korea AML Specialist (TPAC) · Work through your exam, one topic at a time.
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) study guide has 9 sections and about 2,595 words.
01Korea's AML/CFT Legal and Regulatory Framework
This domain tests how well you know the Korean AML/CFT statutory architecture, which regulator does what, and how reporting duties flow from the law into institutional procedures. The core statute is the Act on Reporting and Using Specified Financial Transaction Information, often called the Specific Financial Information Act, supported by its Enforcement Decree and supervisory rules.
316 words, about 2 min02International AML/CFT Standards and Cross-Border Obligations
This domain tests whether you can connect FATF and UN obligations to concrete Korean cross-border controls. Korea is a FATF member and is assessed through the FATF/APG mutual evaluation process; the 40 Recommendations are implemented through Korean law rather than applied directly.
296 words, about 1 min03Customer Due Diligence and Enhanced Due Diligence
This domain tests the timing, content, and escalation of customer due diligence and enhanced due diligence in Korean financial institutions. CDD is not a one-time account-opening formality; it is an ongoing risk-based process that supports STRs, sanctions screening, and beneficial ownership work.
291 words, about 1 min04Beneficial Ownership and Customer Risk Assessment
This domain tests beneficial ownership identification and customer risk assessment as linked processes. Korean AML rules require institutions to find the natural persons who ultimately own or control a customer, then use that information to set risk and monitoring intensity.
297 words, about 1 min05Suspicious Transaction Reporting and STR Processes
This domain tests the end-to-end suspicious transaction reporting process: detection, internal escalation, decision-making, filing with KoFIU, confidentiality, and recordkeeping. Korea has no minimum won threshold for an STR; the trigger is reasonable suspicion.
288 words, about 1 min06Currency Transaction and High-Value Cash Reporting
This domain tests high-value cash reporting, which is a separate control from suspicious transaction reporting. The exam expects you to know the threshold, aggregation logic, identification duties, and why a CTR is not an accusation.
281 words, about 1 min07Sanctions, PEPs, and Targeted Financial Sanctions Compliance
This domain tests targeted financial sanctions and politically exposed person controls, which are often confused. Sanctions require freezing and reporting; PEP status requires enhanced due diligence and senior approval.
274 words, about 1 min08AML Program Governance, Training, and Independent Testing
This domain tests whether an AML program is actually governed, not just written. Korean supervisors expect board and senior management accountability, a designated AML compliance function, risk-based training, independent testing, and clear escalation.
273 words, about 1 min09Emerging Risks: Virtual Assets, Fintech, and New Payment Methods
This domain tests how Korean AML rules apply to virtual assets, fintech onboarding, and new payment methods. The exam expects risk-based adaptation, not a separate rulebook.
279 words, about 1 min