FSS to Eliminate Financial Crimes Undermining Livelihoods... Mobilizing All Enforcement Capabilities

Introduction of Special Civil Affairs Police System for Livelihoods: Rapid Investigation of Illegal Private Lending

Suspension of Transactions for Illegal Lending Contracts

Enhancement of AI-Based Illegal Information Monitoring System

On March 5, the Financial Supervisory Service announced its intention to designate this year as the "Year of Eliminating Financial Crimes that Undermine Livelihoods" and pledged to mobilize all available resources to drive changes in the financial sector. The agency further warned that, through the special civil affairs police program, it will promptly investigate suspected illegal private lending activities and take measures such as suspending transactions for anti-social illegal lending contracts.

On this day, the Financial Supervisory Service held the "2026 Livelihood Finance Division Financial Supervision Work Briefing Session" and outlined its key work plans for the livelihood sector this year.

Kim Hyungwon, Deputy Governor of the Livelihood Finance Division, stated in his opening remarks, "Financial crimes are becoming increasingly sophisticated through the use of advanced technologies such as deepfakes, and illegal stock trading chat rooms are exploiting rising stock trends. This has become a persistent national crisis that requires a coordinated response. We will mobilize all our capabilities to ensure the authorities' strong enforcement will leads to tangible changes in the financial sector."

The Financial Supervisory Service also announced its plan to accelerate investigations related to illegal private lending, aiming to minimize the time gap between the occurrence of a crime and its crackdown. Deputy Governor Kim explained, "For anti-social illegal lending contracts, we will issue invalidation certificates in the name of the FSS Governor and provide relevant account information to financial institutions to facilitate the suspension of related accounts. This will further speed up our response to financial crimes."

In addition, the agency will upgrade its artificial intelligence (AI)-based illegal information monitoring system. Deputy Governor Kim stated, "We will use AI technology to continuously monitor and swiftly block newly emerging illegal advertisements online, thereby countering increasingly sophisticated financial crimes."

Furthermore, the Financial Supervisory Service plans to use widely influential digital channels such as YouTube and social networking services (SNS) to quickly share the latest financial crime schemes. The agency will also strengthen on-site, community-based education and outreach programs by visiting local communities and schools to support digitally marginalized groups.

The Financial Supervisory Service intends to actively incorporate feedback and suggestions gathered during this work briefing session and roundtable discussion into future livelihood finance policies and supervisory work.

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