Korean Financial Authority Steps Up Unfair Virtual Asset Trading Sweep

Key Points:

• Korean Financial Supervisory Service held a press conference to report on how it strengthened its ability to investigate unfair transactions.
• It has established a special investigation team, information-collecting task force, and digital investigation response team.
• In addition, FSS will hold investment briefings from June 1 to the end of December and accept complaints offline and online.

Korean Financial Supervisory Service (FSS) conducted a news conference today, according to iNews24, to report on how it increased its capabilities to examine unfair transactions.

The Financial Supervisory Service will boost the size of the three investigation departments from 70 to 95 people and create a special investigation team, an information-collecting task force, and a digital investigation response team.

The special investigation team, for example, is in charge of the comprehensive disposal of major unfair trading events involving large losses to investors, the information-collecting task force is in charge of collecting unfair trading information through online and offline activities, and the digital investigation response team will review virtual assets and tokens investigative techniques for new digital assets such as securities (STO).

The FSS intends to link market information related to unfair transactions with financial big data accumulated during work such as supervision, inspection, and review and to precisely capture the probability of unfair transactions through “customized” information detection and analysis based on artificial intelligence (AI).

The collaboration will also be reinforced in areas such as the operation of the investigative information sharing system with the Financial Services Commission and the stock market, as well as the prompt reaction to unfair transactions via close collaboration with the prosecution and the police.

From the first of next month through the end of December, the Financial Supervisory Service will organize a special enforcement team to investigate unfair trade practices via investment briefings. The intense reporting period via wires and online will be conducted from the 7th of next month to the end of this year in order to revitalize reporting and reporting linked to reading rooms through stocks, etc.

Moreover, from June 1 to the end of December, FSS will host investing briefings, take complaints both offline and online, and form a special law enforcement team to investigate unlawful transactions.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News