Financial Services Commission Establishes 'Financial Safety Division' to Strengthen Financial Security

Strengthening Financial Security and Information Protection Functions

The Financial Services Commission plans to reorganize the existing 'Electronic Finance Division' to establish a 'Financial Safety Division' dedicated to managing financial safety-related tasks, such as managing financial security risk factors and strengthening information protection in the financial sector, and will begin operations from the 13th.

The Financial Safety Division is an organization within the Financial Services Commission responsible for financial security and information protection. It will handle tasks such as security related to electronic finance, responding to electronic intrusion incidents in the financial sector, preventing damages from telecommunication financial frauds like voice phishing, establishing policies and conducting inspections related to the protection of personal and credit information in the financial sector, and formulating policies concerning the stability and security of digital financial infrastructure.

Among the tasks of the existing Electronic Finance Division, management and supervision duties such as licensing and registration of electronic finance operators will be transferred to and carried out by the 'Financial Data Policy Division.'

Going forward, through the Financial Safety Division, the Financial Services Commission will thoroughly respond to issues related to financial safety, such as expanding the stability of digital finance-related systems and strengthening information protection, in the process of promoting digital financial innovation.