Finance
Big tech financial platforms face heavier IT oversight as regulators stress accident prevention
South Korea\'s financial watchdog is demanding stronger IT stability and internal controls from big tech-linked electronic financial service providers as they become part of everyday financial infrastructure. The move follows a string of system outages this year, including disruptions to payments, top-ups and remittances, online and offline payment failures and duplicate debits on automatic transfers. The regulator urged isolation systems to stop failures spreading across services and said it would conduct on-site inspections and take strict action over major incidents.