Recently, illegal advertisements for 'stock leading rooms' that impersonate celebrities to solicit investments have been rampant, and there have even been cases of creating illegal websites to deceive investors.
On the 23rd, AF Investment announced that there have been cases of opening illegal online sites impersonating CEO Yang Gwan-woon to deceive investors.
Recently, an illegal online homepage containing advertisements has been impersonating Yang's company, AF Investment, posting investment information and recruiting investors through 'KakaoTalk consultation' and other means. This homepage entices investors by claiming that profits can be made within 5 to 30 minutes of investment through the 'nation's first short-term investment fintech.'
The homepage also posted numerous photos of cash bundles along with testimonials from investment event winners claiming to have earned hundreds of millions of won. Additionally, it displayed a large number of certificates along with descriptions of customized design and high-quality differentiated security services. The site brazenly posted photos and greetings from CEO Yang Gwan-woon to deceive people.
The problem is that many people may fall for such false advertisements. In cases of investment advertisements impersonating celebrities, regulation is difficult, and there is little legal basis for punishment, which could lead to numerous victims.
The purpose of these illegal advertisements is to lure people into so-called 'illegal stock leading rooms' through impersonated individuals and to recommend investments in specific stocks. Not only investors but also the celebrities whose faces are used in these illegal advertisements suffer damage to their reputation and may develop negative images, raising concerns about secondary harm.
Recently, former Hanwha Investment & Securities CEO Joo Jin-hyung also warned via SNS last month regarding illegal advertisements that used his name and photo, stating, "Recently, advertisements claiming to provide stock investment consultations impersonating me have been circulating. They have nothing to do with me, and such acts are illegal, so please do not be deceived."
Meanwhile, as cases of impersonating celebrities to induce stock investments increase, the Korea Communications Standards Commission has decided to focus on monitoring investment inducement advertisements until the end of the year. The monitoring targets are illegal financial information advertisements violating the Capital Markets and Financial Investment Business Act that use the likenesses of celebrities from the entertainment industry, economic figures, financial experts, economists, and others without permission for profit or compensation purposes to induce stock investments.
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