Anti-Money Laundering

AML/CFT Policy

KGI Life periodically examines internal AML/CFT regulations and operations, and reviews monitoring patterns and reporting standards when appropriate, in order to improve the quality of suspicious transaction reports (STRs), better prevent crimes, and occurrence reporting. In 2023, KGI Life amended the "Money Laundering and Terrorism Financing Risk Assessment and Prevention Policy," "Directions for Assessment and Prevention of Money Laundering and Terrorism Financing Risks," "Guidelines Governing Anti-Money Laundering and Countering Terrorism Financing," "Detailed Guidelines for Anti-Money Laundering and Countering Terrorism Financing," and "Guidelines for Sharing Data on Anti-Money Laundering and Countering Terrorism Financing" in alignment with laws and practices.

AML/CFT Organizational Structure

Establish the AML/CFT risk management framework for corporate governance, system design, control and procedure, risk management, and independent audits, and incorporate AML/CFT awareness into the corporate culture through information system use, process management, and the development of employees' professional competencies.

Continue to improve the AML/CFT process

KGI Life's methodology for comprehensively evaluating money laundering and terrorism financing risk is consistent with the method used by the parent company. We also referenced domestic and foreign risk management reports and trends, and established indicators for inherent risks and control results that are repeatable and comparable. We also strengthened the theoretical foundation for assess residual risk, and used measurement results of indicators as the basis for monitoring changes in risk trends, in order to understand the Company's overall exposure and the correlation with national risk assessment. We referenced our customers, products, and trading policy when setting the risk limit and risk appetite, and continued to monitor money laundering and terrorism financing risks to create a complete risk profile.

Assessment results of overall money laundering and terrorism financing risks in 2023 were within KGI Life's risk limit and risk appetite. We test the watch list filtering and transaction mechanisms during semi-annual compliance self-assessments according to the optimization items recommended in the "Comprehensive ML/TF Risk Assessment Report and Prevention Plan," verifying the effectiveness of system logic to further improve the AML/CFT system.