AML/CFT Legislation
Act on Prohibition Against the Financing of Terrorism
and Proliferation of Weapons of Mass Destruction
The Act on Prohibition Against the Financing of Terrorism and Proliferation of Weapons of Mass Destruction (PFOPIA) is Korea's anti-terrorist financing legislation. It was enacted in December 2007 and came into force in December 2008 after a one-year transition period.
The PFOPIA uses the term "financing for offences of public intimidation" instead of "terrorist financing" since there is no legal definition of "terrorism" in Korea. The main purpose of PFOPIA is to implement the UN Convention for the Suppression of Financing of Terrorism (1999).
- PFOPIA (Prohibition of Financing for Offences of Public Intimidation Act) Download Full Text
- Enforcement Decree of the PFOPIA Download Full Text