[2021 National Audit] "Financial Supervisory Service, Please Consult with the Ministry of Education on Youth Financial Education"

[Asia Economy Reporter Park Sun-mi] The Financial Supervisory Service (FSS) has urged the Ministry of Education to collaborate on incorporating financial education for youth into the regular school curriculum to enhance financial literacy among financial consumers.

On the 7th, Kim Han-jung, a member of the National Assembly's Political Affairs Committee from the Democratic Party of Korea, stated, "The financial literacy scores of the public are not high," adding, "The FSS is producing financial education materials for youth, but if these are not well shared, they will be ineffective. We need to actively consider using tools with high acceptance among youth, such as new media." He further emphasized, "There is a need to reflect youth financial education in the regular school curriculum," and requested, "The FSS should coordinate with the Ministry of Education."

Kim also urged Jeong Eun-bo, the head of the FSS, to make active efforts to prevent voice phishing damage. He said, "Although the FSS is making many efforts to prevent voice phishing and provide victim relief, there are many system gaps, such as victims having to call each financial institution individually to report incidents," and added, "I have also suggested to the Financial Services Commission to operate an integrated call center, and I ask the FSS to take an active role as well."

Director Jeong responded regarding the fact that voice phishing damage information is not disseminated simultaneously across all financial institutions, saying, "This is because some financial institutions do not participate in the system," and acknowledged, "It is true that we do not have an efficient system for dissemination. We will improve this."

Last year, voice phishing damage exceeded a record high of 700 billion won. Although it is perceived that reporting voice phishing to the police or the FSS will result in measures such as account freezing and transaction cancellation, in reality, victims must directly call each financial institution's customer center to take action to prevent damage.

Currently, voice phishing and smishing reporting channels are diversified, including the National Police Agency Cyber Investigation Unit (112), the FSS's Personal Information Exposure Accident Prevention System (1332), the Korea Internet & Security Agency (KISA) Internet Incident Response Support Center (118), the Korea Association for ICT Promotion (KAIT) identity theft prevention service (m-safer), and the customer centers of each financial institution.

This content was produced with the assistance of AI translation services.