FSS Selects 274 Members for Illegal Financial Advertisement Monitoring Group...Online Team Tripled

Strengthening Response to SNS and Short-Form Content
Operations to Run for Seven Months Starting in May

The Financial Supervisory Service will significantly expand its online monitoring personnel to detect new types of illegal financial advertisements.

On May 4, the Financial Supervisory Service announced that it would organize a total of 274 civic monitoring members for illegal financial advertisements this year, operating the group for seven months starting in May. The monitoring group will consist of 156 members for online monitoring and 118 for offline monitoring.

In particular, to respond to new types of illegal financial advertisements that rapidly spread online, such as through social networking services (SNS) and internet communities, the number of online monitoring members has been increased nearly threefold from 55 last year to 156 this year.

The civic monitoring group will report illegal financial advertisements encountered in daily life, and the Financial Supervisory Service will verify these reports before requesting related agencies such as the Korea Communications Standards Commission and the Ministry of Science and ICT to block them.

The newly joined online monitoring members are composed of individuals familiar with SNS and short-form content, and are expected to more precisely detect new types of illegal financial advertisements. Since offline illegal financial advertisements such as flyers or business card-type ads are still being distributed, the offline monitoring group will identify and report flyer-type ads that are likely to be encountered by digitally vulnerable groups.

The Financial Supervisory Service plans to establish a multi-layered monitoring system by linking the existing artificial intelligence (AI)-based illegal financial advertisement monitoring system, the civic monitoring group, and the "Illegal Finance Paparazzi" reward program. Under this reward program, reports are accepted on illegal private lending, illegal financial influencers, and unlisted stock investment scams, and rewards are provided to whistleblowers based on the scale of damage and contribution to investigations.

An official from the Financial Supervisory Service stated, "With the reorganization of the civic monitoring group, our online monitoring capabilities have been strengthened, laying the groundwork for the early detection and blocking of new types of illegal financial advertisements," adding, "By linking with the Illegal Finance Paparazzi reward program, the citizen participation-based reporting channel will be further diversified, making a significant contribution to preventing harm."

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