FIU Tightens VASP Filing Reviews to Verify Compliance Systems Work in Practice

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South Korea’s Financial Intelligence Unit, or FIU, will begin checking whether registered virtual asset service providers are actually operating their organizations, staffing, computer systems, internal controls and compliance frameworks in practice.

The FIU has drawn up a “2026 Addendum Filing Implementation Status Form” containing 44 key review items that registered VASPs must submit, Etoday reported on September 7. The step follows revisions to the Act on Reporting and Use of Certain Financial Transaction Information that took effect on August 20, strengthening VASP filing requirements for existing operators.

Existing VASPs must complete the addendum filing by November 20 and undergo review under the stricter standards. Filing requirements have been expanded to cover financial condition, social credibility, and major shareholder eligibility, along with organization, personnel, computer systems, internal controls and compliance frameworks.

The status form contains 44 review items in total: 17 related to organization, personnel, computer systems and internal controls, and 27 tied to compliance frameworks. Within the compliance section, the FIU will examine 15 anti-money laundering items, eight related to the Virtual Asset User Protection Act and four covering other user protection measures. Companies must submit their operating status for each item, supporting documents that prove it, and information on both the preparer and reviewer.