National Police Agency-Financial Supervisory Service, Business Agreement to Eradicate Financial Crimes

After signing the business agreement, Min Gap-ryong, Commissioner of the National Police Agency, and Yoon Seok-heon, Governor of the Financial Supervisory Service, pose for a commemorative photo.

[Asia Economy Reporter Jeong Dong-hoon] On the 17th, the National Police Agency and the Financial Supervisory Service held a 'Business Agreement Ceremony for Eradicating Financial Crimes' at the National Police Agency in Migeun-dong, Seodaemun-gu, Seoul, attended by Min Gap-ryong, Commissioner of the National Police Agency, Yoon Seok-heon, Governor of the Financial Supervisory Service, and other officials.

Through this business agreement ceremony, the National Police Agency and the Financial Supervisory Service plan to integrate the content and know-how on illegal financial activities held by the Financial Supervisory Service with the various crime prevention publicity channels possessed by the National Police Agency, and to promptly disseminate and share new types of financial crime cases, thereby promoting measures to prevent illegal financial activities.

At the agreement ceremony, the two institutions promised ▲ joint promotion of publicity activities for effective damage prevention ▲ information sharing and educational support to strengthen crime response capabilities ▲ preparation of financial system improvement plans to fundamentally block crimes ▲ and other cooperation tasks to eradicate financial crimes.

The National Police Agency and the Financial Supervisory Service have strengthened mutual cooperation based on previously concluded business agreements. After forming a government-wide task force, they have established a close cooperation system to eradicate financial crimes such as telephone financial fraud and illegal private loans, responding with full force.

Recently, due to the spread of the novel coronavirus infection (COVID-19), the risk of economically struggling citizens being exposed to financial crimes has increased, while the methods of financial crimes are becoming increasingly sophisticated. In particular, there has been a significant increase in loan fraud-type telephone financial frauds exploiting the desperate psychology of financially vulnerable groups and small business owners.

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