National Police Agency Promotes Establishment of Integrated Reporting and Response System for Electronic Communication Financial Fraud

Launch of the Pan-Government Preparation Team with the Ministry of Science and ICT and the Korea Communications Commission

[Asia Economy Reporter Seongpil Cho] The National Police Agency's National Investigation Headquarters announced on the 6th that it has begun preparations to establish an integrated reporting and response system for telecommunication financial fraud (phishing).

The integrated reporting and response system aims to unify the reporting channels scattered across different ministries regardless of the type of complaint. Until now, if no phishing damage occurred, ▲general crime reports were handled by the police ▲reports of phone numbers or text messages used in crimes were handled by the Korea Internet & Security Agency ▲account suspension or damage relief were handled by the Financial Supervisory Service, causing inconvenience to complainants due to the differing agencies involved. To address this, the National Police Agency launched a preparation team on the 4th, led by the head of the Economic Crime Investigation Division, with personnel dispatched from the Ministry of Science and ICT, the Korea Communications Commission, the Financial Supervisory Service, and the Korea Internet & Security Agency. The ultimate goal is to establish a government-wide joint 'Telecommunication Financial Fraud Integrated Reporting and Response Center.'

Once the center is established, all reports related to telecommunication financial fraud will be centralized, greatly improving convenience for complainants. Since information on attempted but unsuccessful cases will also be accumulated, the police expect it to aid investigations as well. A National Investigation Headquarters official stated, "As personnel from each ministry gather, the preparation team will promptly and accurately establish procedures to integrate the differing systems of each ministry," adding, "We will draft the blueprint for an appropriately sized integrated reporting and response center."