KOREA_Rampant credit card loan fraud by voice phishing ignoring.wmv

Rampant credit card loan fraud by voice phishing, Financial Supervisory Service(FSS) ignoring, KOREA

Credit card loan fraud by voice phishing seems to be more rampant. Victims got enraged at the Financial Supervisory Authorities' belated actions. A reporter, An-Bo-Ram

Mr. Kim suffered losses amounting to more than 10 million won from a recent voice phishing fraud. Scammers took out money by applying for a loan with the personal information stolen from a credit card company.

▶ Interview: Mr. Kim / Victim of voice phishing fraud

I asked "How can the credit card company approve a debt with incorrect and incompetent information without proper verification?" They say "We are not responsible for fraud and the debt contract by an identity theft is still valid."

A group of 40 people, victims of voice phishing by credit card loans, gathered in front of the Financial Supervisory Service (FSS) under chilly weather.
They publicly denounced the Financial Supervisory Service (FSS)'s neglect of their supervision as well as credit card companies' random setting in credit limits.

▶ Interview : Delegate of victims by voice phishing fraud

"We question on why the Financial Supervisory Service (FSS) is not tightening regulations. Given that it is not performing its duty, it is like wasting the tax-payers' precious money

▶ A journalist, An-Bo-Ram

Although individual debt by credit card scam has rapidly increased over months, the Financial Supervisory Authority hasn't taken the appropriate measures, as a result, damage has grown seriously.

More than 570 people have signed up to become a member of internet club for union of victims since its launching 2 months ago. The total sum of damage is estimated at over 10.5 billion won.

Even in this emergency, the Financial Supervisory Service (FSS) has set the minimum guideline about the risk of not properly identifying a customer in the interests of expediency and hasn't carried out the enforcement necessary with the credit card companies.

▶ a person from Financial Supervisory Service(FSS)

"The enforcement date of the regulations varies. Some companies implemented changes in verifying identification of the person requesting the credit, and some will start it today. It is agreed that credit card companies will take steps to increase the safety level on verification of identity by the end of November."

We have more and more innocent victims as time goes on. It's time that the FSS should take serious consideration of its position and its responsibility to those who become victims due to its lax security policies.

A journalist, An-Bo-Ram, MBN News
November 16, 2011, Seoul, Korea

Translated by Association for the Victim of Credit Card Loan Phishing http://cafe.naver.com/pax1004

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