The Financial Supervisory Service is focusing on uncovering cases in which obesity drugs such as Wegovy and Mounjaro, which are non-covered items under indemnity insurance, are disguised as covered items to obtain insurance payouts. The Financial Supervisory Service is also said to have assigned personnel who used to detect auto insurance fraud to crack down on insurance fraud involving obesity drugs. The move comes as the popularity of obesity drugs has recently risen and related insurance fraud is increasing.
According to the financial authorities on the 10th, the Financial Supervisory Service (FSS) Insurance Fraud Response Team is working with police to crack down on indemnity insurance fraud involving obesity drugs. The Financial Supervisory Service (FSS) is cooperating by collecting insurance fraud information and passing it to police while requesting investigations.
The Korean National Police Agency National Office of Investigation (NOI) said it will conduct a special crackdown on illegal acts such as public and private insurance fraud for nine months from the 2nd of last month through Oct. 31. The Financial Supervisory Service (FSS), together with the Korea Life Insurance Association, the General Insurance Association of Korea and insurers, is also running a special reporting period on insurance fraud that exploits indemnity insurance from Jan. 12 through the 31st of this month. The Financial Supervisory Service (FSS) was also said to have recently met with police to discuss strengthening cooperation during the crackdown period.
The Financial Supervisory Service (FSS) has reportedly moved to tighten enforcement as cases of abusing insurance for cosmetic, plastic surgery and obesity treatments increase. The Financial Supervisory Service (FSS) said that some medical institutions have recently been increasingly issuing false medical records by disguising obesity drugs, which are non-covered treatments, as covered treatments such as manual therapy.
An official at the Financial Supervisory Service (FSS) said, "Since late last year, indemnity insurance fraud related to obesity drugs has emerged as a problem, and this year we plan to focus on it."