Gov't forms interagency TF to crack down on illegal FX transactions
A banker checks dollar bills at Hana Bank's Counterfeit Notes Response Center in Seoul, Nov. 5, 2025. Yonhap
The government launched an interagency task force Thursday to crack down on illegal foreign exchange transactions amid the continued depreciation of the local currency, the finance ministry said.
The task force comprises officials from the Ministry of Economy and Finance and five other government agencies, including the National Intelligence Service, the Bank of Korea and the Financial Supervisory Service.
The ministry said illegal foreign exchange transactions have become increasingly complex and sophisticated, making it difficult for a single agency to effectively investigate and respond.
It added that the government plans to dismantle barriers between agencies and leverage their respective expertise to track and uncover illegal cross-border fund flows.
The move comes as part of broader efforts to respond to the continued weakening of the Korean won against the U.S. dollar.