[2026 Parliamentary Audit] STRs Nearly Double in 10 Years as FIU Staff Shrinks: "Urgent Need to Expand"

Virtual asset reports increased more than fivefold in three years
Han Changmin: "Urgent need to expand review and analysis staff"

The number of suspicious transaction reports (STRs) nearly doubled, while staffing at the Financial Intelligence Unit (FIU) actually declined. With virtual asset and electronic financial fraud cases surging, critics say it is urgent to expand the workforce.

According to data provided by the FIU to Han Chang-min, a Social Democratic Party lawmaker on the National Assembly’s Political Affairs Committee, there were 1,333,391 STRs last year, up 89.6% from 703,356 in 2016. About 960,000 reports had also been filed through August this year, putting the total on track to exceed last year’s figure.

Under the STR system, financial companies and other entities report to the FIU transactions suspected of involving money laundering or illegally acquired assets. The FIU analyzes these reports and provides the findings to investigative agencies, making thorough analysis of suspicious transaction reports an important first step in tracing the flow of illicit funds.

The number of STRs rose from 703,356 in 2016 to 906,462 in 2023, 1,084,142 in 2024 and 1,333,391 in 2025. A simple projection based on the monthly average for January through August this year puts the total at about 1,438,000. That would be 7.8% higher than last year.

Reports from virtual asset service providers rose particularly sharply, from 10,797 in 2022 to 16,076 in 2023, 19,658 in 2024 and 62,055 in 2025. The increase last year was 215.7% from the previous year. A further 52,746 reports had been filed through August this year.

By contrast, the FIU’s headcount has declined. It fell by three, from 74 in 2024 to 71 this year, and remained at 71 at the end of September this year. The FIU also fell short of its authorized headcount of 79. Over the past five years, staffing stood at 67 in 2022, 73 in 2023, 74 in 2024 and 71 in 2025, and was 71 as of September this year.

“With STRs surging, a decline in the staff responsible for reviewing and analyzing them could hamper a swift response to money laundering and other illicit transactions,” Han said. “We urgently need to expand our pool of specialists so we can handle the growing number of reports, including those involving virtual assets.”

This content was produced with the assistance of AI translation services.