Republic of Korea: Amendment to Act related to voice phishing to include cryptocurrencies phishing schemes
Progress
Current status
under deliberation
28 Feb 2023 under deliberation
Scope
Implementers
Republic of Korea
Policy Area
Other operating conditions
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Announced amendment to Act related to voice phishing to include cryptocurrencies phishing schemes
On 28 February 2023, the South Korean Financial Services Commission (FSC) announced that amendments to the “Telecommunications Fraud Damage Reimbursement Act” would be introduced in April 2023 to allow existing legal relief for phishing schemes to b…
SourceEvent type
law
Action type
announcement
Government branch
executive
Government body
other regulatory body