The Financial Supervisory Service is teaming up with the short-form YouTuber "Less Than 1 Minute" to produce short-form videos to help prevent damage from illegal activities by pseudo investment advisory providers.
The FSS said on the 15th that starting this year it will use the YouTube channel "Less Than 1 Minute" and the FSS channel to provide guidance on cases of damage and prevention methods related to pseudo investment advisory services.
The FSS has so far carried out prevention campaigns against damage caused by illegal pseudo investment advisory providers using YouTube video campaigns, radio audio ads, and public service announcements. Starting this year, it will begin promotions using short-form videos and card news, which deliver and spread information quickly.
The short-form videos will introduce illegal business practices such as unregistered investment advice and false or exaggerated advertising by pseudo investment advisory providers, as well as how to look up pseudo investment advisory firms. Because pseudo investment advisory providers are not institutional financial companies, the videos also include the risks of joining "reading rooms" via stock-pick recommendation messages.
The card news will present the differences between legal and illegal reading rooms and introduce prevention cases involving illegal investment advice and unlisted investment scams.
The FSS said, "To minimize consumer harm caused by the illegal activities of pseudo investment advisory providers, we will continue prevention publicity on an ongoing basis," and added, "Through crackdowns on pseudo investment advisory providers and cooperation with related agencies, we will sternly deal with illegal activities."