"Understanding Pseudo-Investment Advisory Services Is Key to Preventing Damage"

FSS Collaborates with YouTuber "Less Than 1 Minute"
to Produce Short-Form Videos

The Financial Supervisory Service is launching a public awareness campaign using short-form videos and card news to reduce consumer damage caused by illegal business practices of pseudo-investment advisory firms.

On October 15, the Financial Supervisory Service announced that it would collaborate with the short-form YouTuber "Less Than 1 Minute," who has 2.56 million subscribers, to produce and post videos, as well as provide information through card news on cases of damage caused by pseudo-investment advisory services and ways to prevent them.

The Financial Supervisory Service aims to raise awareness of illegal activities by pseudo-investment advisory firms and to encourage prompt reporting of damages through short-form content, which is highly effective in delivering information.

The upcoming video will cover illegal business practices such as unregistered investment advisory services and false or exaggerated advertising. It will introduce prevention methods, such as checking the registration status of pseudo-investment advisory firms. In addition, it will highlight the dangers of joining chat rooms through stock recommendation text messages and emphasize that pseudo-investment advisory firms are not legitimate financial institutions.

Through card news, the campaign will explain the definition of pseudo-investment advisory firms and the differences between chat rooms and illegal chat rooms. It will also present cases of damage, such as illegal investment advisory and discretionary services, as well as investment scams involving unlisted stocks. Furthermore, it will guide consumers on how to check registered firms (via the Financial Consumer Information Portal, Fine) and explain the reporting procedure to prevent damage.

In addition, banners directly linking to the pseudo-investment advisory damage reporting system will be posted on the websites (MTS) of the Financial Supervisory Service, Korea Consumer Agency, and securities firms. This will help investors respond quickly to any damage they may suffer.

The Financial Supervisory Service will continue to promote public awareness to prevent damage from pseudo-investment advisory firms. It also plans to strengthen crackdowns on illegal investment advisory services and chat rooms in cooperation with related agencies such as the National Police Agency.