Overview
- Regulators said Dunamu failed to properly verify user identities in about 5.3 million cases, including acceptance of photocopied or re‑photographed ID images.
- The FIU found roughly 3.3 million instances where users were allowed to transact despite incomplete verification.
- Authorities also cited 15 suspicious transactions that were not reported.
- Dunamu said it has resolved the issues and strengthened AML and KYC controls, applying the travel rule and whitelisting to all transactions since February and adopting Chainalysis tools.
- The company is challenging the findings in court, arguing it complied with the travel rule and that most cited transfers were below the 1 million won threshold.