[2021 National Audit] 37% Unreturned Erroneous Remittance Rate... "Victims Must Be Helped Through Enhanced Return Support Promotion"

[Asia Economy Reporter Park Sun-mi] As of the end of August this year, the non-return rate of mistaken remittances reached 37%, raising concerns that active measures should be taken to protect financial consumers by strengthening the promotion of the Deposit Insurance Corporation's mistaken remittance return support system.

On the 18th, Kim Han-jung, a member of the National Assembly's Political Affairs Committee and Special Budget and Accounts Committee (Gyeonggi Namyangju-eul), pointed out, "The Deposit Insurance Corporation's mistaken remittance return support system has a low number of applicants due to insufficient promotion, and a significant portion of those applications are being rejected."

The Deposit Insurance Corporation's mistaken remittance return support system was established through the amendment of the Depositor Protection Act in December last year. If a mistaken remittance sender requests a return of mistaken remittance through a financial company for an amount between 50,000 KRW and 10 million KRW, and the recipient does not return it, the sender can request return support from the Deposit Insurance Corporation.

In the past year alone, there were a total of 184,445 return claims amounting to 465.8 billion KRW, of which 94,265 cases totaling 211.2 billion KRW were not returned by financial companies. As of August this year, there were return claims amounting to 369.7 billion KRW, but the non-return amount was 137.7 billion KRW, resulting in a non-return rate of 37%.

Assemblyman Kim said, "It seems that consumers are still not well aware of the mistaken remittance return support system," and he urged, "Special attention should be paid to strengthening promotion of the system so that the mistaken remittance return support system, established to protect consumers from damage, can achieve its intended results."

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