▲ MOU signing ceremony for the eradication of illegal online financial information and the creation of a safe digital financial environment
The Financial Supervisory Service (FSS) announced today (June 19) that it has signed a memorandum of understanding (MOU) with relevant agencies to expand self-regulation and strengthen blocking systems to eradicate illegal online financial information and illicit financial activities.
The heads of the three agencies—the FSS, the Broadcasting, Media and Telecommunications Commission (BMTC), and the Broadcasting, Media and Telecommunications Standards Review Commission (BMTSR)—signed the "MOU for the Eradication of Illegal Financial Information and the Creation of a Safe Digital Financial Environment" at the Gwacheon Government Complex this morning.
The collaboration comes as the three agencies responsible for monitoring and investigation, deliberation and blocking, and policy-making joined forces in response to the recent surge in illegal online financial activities, which has emerged as a significant social issue.
Through this MOU, the three agencies will support the expansion of self-regulation by internet platform companies.
They also agreed to enhance inter-agency cooperation to advance the system for blocking illegal financial information and to jointly promote awareness regarding the prevention of and response to illegal private lending.
Financial authorities have recently been seeking ways to eradicate illegal activities by "finfluencers" (financial influencers) and issues such as posts related to illegal debt collection on social media (SNS).
In particular, regarding illegal debt collection posts, the authorities had previously relied on requesting emergency cooperation from the Korea Internet & Security Agency (KISA) only for cases identified through complaints or reports. This approach was limited by its reliance on such reports and the difficulty of blocking content when personal information is unclear.
Starting as early as August, the FSS plans to upgrade its current artificial intelligence (AI) illegal information monitoring system to independently detect illegal debt collection posts. It will then respond actively through a collaborative system where the BMTC and BMTSR block the identified content.
(Photo: Provided by BMTC, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.