Finance
Zero-tolerance shift in financial supervision puts banks and big tech on edge
Tension is rising across South Korea\'s financial sector as the Financial Supervisory Service shifts supervision toward prevention and launches a Consumer Risk Response Council. The watchdog signalled tougher penalties for sectors with repeated incidents, including big tech and internet-only banks, and said it would apply statutory sanctions without mitigation if similar IT failures recur. Banks and platform-based firms are strengthening internal controls, IT stability and consumer protection governance.
