Search results for illegal private lending
Telecommunications & Media
Bamisimwi blocks access to 143 illegal debt collection posts on SNS
The Broadcasting Media Communications Review Committee\'s communications review subcommittee on Sunday decided to order corrective measures, including access blocks, on 143 cases of illegal debt-collection information posted on social networking services that disclosed debtors\' personal details. The review followed requests from the Financial Supervisory Service, the Busan Metropolitan Police Agency and the Ulsan Jungbu Police Station. The committee warned that spreading debtors’ personal data online can be punished by up to three years in prison or a fine of up to 30 million won.
AI & Enterprise
Korea broadcast media bodies, FSS sign MOU to eradicate illegal financial information
Korea’s Broadcast Media and Telecommunications Commission, Broadcast Media and Telecommunications Review Commission and the Financial Supervisory Service signed a memorandum of understanding on June 19 to eradicate illegal financial information and create a safer digital financial environment. The agencies said they will cooperate to expand and strengthen self-regulation by internet platforms, upgrade systems to block illegal financial information and step up public campaigns to prevent harm from illegal private lending. They also plan stronger joint measures against illegal acts by finfluencers.
Finance
Woori Bank joins SFIF to help prevent harm from illegal private lending
Woori Bank will work with the Korea Inclusive Finance Agency on a nationwide relay campaign to help prevent harm from illegal private lending and promote policy-backed finance support schemes. The campaign, sponsored by Woori Bank for a second consecutive year, will run through the end of December. The two organisations plan to provide information to about 11,000 financially vulnerable people, including the elderly and people with disabilities, and local residents.
