In the future, lending specialized financial companies and large lenders will be required to perform customer identification measures.
The Financial Services Commission noted that it will announce a legislative notice on the amendment to the Communication Fraud Damage Compensation Act on the 12th. After this amendment is implemented, lending specialized financial companies such as card companies and capital firms, as well as lenders with assets exceeding 50 billion won, will be required to perform identification measures. The Financial Services Commission expects that thorough identification will reduce the risk of voice phishing after the amendment.
The legislative notice period is until June 23, and the amendment is expected to be completed within the third quarter of this year. The implementation date will be six months after the announcement of the amendment.