Preventing Voice Phishing... Kim Yong-pan Proposes the 'Basic Act on Fraud Prevention'

"To Minimize the Number of Citizens Suffering from Fraud"
Includes Establishment of Fraud Information Analysis Center and Disclosure of Personal Information of Specific Fraud Offenders

[Asia Economy Reporter Geum Bo-ryeong] A bill to prevent fraud crimes such as voice phishing has been proposed.

On the 30th, Kim Yong-pan, a member of the People Power Party, announced that he has taken the lead in proposing the "Basic Act on Fraud Prevention," which focuses on comprehensive responses such as blocking, investigation, and prevention through integrated and professional analysis of fraud crime information.

This newly enacted law includes the responsibilities of the state and local governments for fraud crime prevention and protection, the establishment of a Fraud Information Analysis Center for collecting, analyzing, and providing fraud crime information, disclosure of personal information of specific fraud offenders, special investigation provisions such as allowing undercover investigations by the police during investigations of specific fraud crimes, and the formulation of a basic fraud prevention plan.

According to data on the "Occurrence Status of Fraud Crimes and Fraud Crimes under the Act on the Aggravated Punishment of Specific Economic Crimes by City and Province Nationwide over the Past Four Years" submitted by the National Police Agency to Kim’s office, there were approximately 1.19 million cases of fraud crimes. Fraud crimes under the Act on the Aggravated Punishment of Specific Economic Crimes amounted to about 9,600 cases.

New types of financial fraud crimes such as voice phishing occurred about 52,000 times from 2018 to last year, resulting in approximately 53,000 victims. The damage amounted to 320 billion KRW.

Rep. Kim said, "To proactively respond to increasingly sophisticated fraud crimes, a customized comprehensive national-level countermeasure must be prepared, but the barriers between ministries are hindering this." He added, "This bill will be the key to fundamentally solving fraud crime problems, and I will do my best to pass the bill so that the number of citizens suffering from fraud damage can be minimized."