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  • Shinhan Bank in Korea are stepping up measures to prevent financial criminals.
  • There have been rising claims involving cryptocurrency exchanges that have been conducting illegitimate banking.  


Korea’s Shinhan Bank are pushing forward a set of “special measures” where staff will be dedicated in analyzing account transactions. The bank are trying to distance itself from claims that have come up that it is helping financial criminals, occurring within the cryptocurrency market.  

The alleged claims are cropping up amid a rise in the number of fraud cases involving exchanges.  

At some point in July Shinhan Bank will be looking to launch launch an artificial intelligence monitoring system, the goal of this will be to assist with the identifying of fraudulent transactions more quickly and accurately.    

A spokesperson for Shinhan Bank said:

We have set up a comprehensive plan for the elimination of telecommunication and financial fraud. We will continue to implement preventive measures so that customers will not be harmed in the future.