As concerns stemming from Coupang grow... Voice phishing bill stalls - South Korean media

The National Assembly's Political Affairs Committee is scheduled to review the bill from the 15th to the 17th, but it is expected to face difficulties. There is a prevailing view that the meeting may effectively end in failure due to obstruction by opposition lawmakers.
The problem is that the current agenda includes many bills related to voice phishing. If the political conflict continues for a long time, there is a risk that financial crimes will not be addressed and the damage will spread.
There have been concerns both inside and outside the Cabinet that "voice phishing crimes are structural crimes that pose a threat to the financial safety net," but no progress has been made in establishing a system to deal with them.
The Policy Committee is currently working on urgent issues, such as a bill that includes provisions to share investigative information on voice phishing perpetrators, as well as communication and account information, with all financial companies.
In particular, if information is shared between financial institutions, criminal patterns can be detected in real time, and accounts used for fraud can be frozen immediately.
The government has repeatedly called for the law to be amended, saying, "Now is the right time." However, the moment debate in the Diet becomes complicated, action against crime also comes to a halt.
In particular, after the recent personal information leak incident at Coupang, market anxiety has increased even further.
In the event of a large-scale leak of personal information, the dangers of voice phishing will be infinite. In fact, even in the financial world, there are voices saying that "we need to be on a level of vigilance that is incomparable to the past."
There are major concerns that this could undermine trust in the overall trading and settlement system. However, the Diet, which is responsible for amending the law, is preoccupied with political infighting and has not been able to move forward at all.
Bank transfer frauds occur without a day off. Criminal organizations do not wait for the National Assembly to meet. However, the Korean people are in a paradoxical situation where they cannot even respond if they are able to, because the National Assembly is suspended.
It appears that the dangers have been ignored. If the schedule of the Policy Committee is scrapped, it will not be the dignity of the political world that will be lost, but the assets of the people. Voice phishing has become a social issue.
Now that the situation has reached the level of a natural disaster, I hope that the Diet will fulfill at least some of its responsibilities. This is not an issue that can be put off forever.