Gyeonggi Province Collaborates with Gyeonggi Nambu Police Agency and Gyeonggi Bukbu Police Agency
Crackdown on Illegal Personal Information Leaks and Illegal Private Loan Advertisements
Focused Crackdown on False and Exaggerated Advertisements
Strict Measures Including Business Suspension and Investigation Requests
As illegal private financing damages are spreading mainly online, the Financial Supervisory Service (FSS), together with related agencies, will conduct a joint inspection of online loan brokerage sites, which have been criticized as a major channel for illegal private financing.
On the 26th, the FSS announced that it will carry out a joint inspection of five online loan brokerage sites registered in Gyeonggi Province, in cooperation with Gyeonggi Province, the Southern Gyeonggi Police Agency, and the Northern Gyeonggi Police Agency. Strict measures such as business suspension and referral for investigation will be taken against any illegal activities detected. This decision comes as cases of personal information leakage and connections to illegal private financing continue despite ongoing efforts to strengthen management and supervision of online loan brokerage sites.
The FSS plans to focus on inspecting whether personal information is being sold or leaked without authorization through online loan brokerage sites, whether illegal private financiers are conducting illegal advertising on their behalf, and whether false or exaggerated advertisements are being made. Additionally, the FSS will closely examine illegal activities related to illegal private financing connections and illegal distribution of personal information reported to the special illegal activity reporting center during the special reporting period within loan brokerage sites.
The FSS intends to impose strict sanctions such as fines and business suspensions on companies found violating regulations during this inspection, and will strongly respond by referring serious violations such as misuse of personal information for investigation. The results of the joint inspection will be shared with other local governments, and cooperation among related agencies will be continuously strengthened to prevent damages caused by illegal private financing and illegal activities of loan providers.
Park Un-gyu, team leader at the FSS, stated, "If financial consumers suffer damages from illegal private financing while using online loan brokerage sites, we ask them to actively report to the FSS after securing evidence such as damage details."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
