The Democratic Party of Korea is moving to pass a bill that would require financial companies to be liable for compensation for voice phishing losses even if there is no fault on their part.
The Democratic Party voice phishing task force and the pan-government voice phishing task force held a party-government TF meeting at the National Assembly on the morning of the 30th and reviewed the status of implementation of the comprehensive measures to eradicate voice phishing that the government released in Aug.
Since the comprehensive measures were released in Aug., a pan-government integrated response team for voice phishing has been established and operated; an emergency block of phone numbers used in crimes within 10 minutes has been introduced; a voice phishing AI platform has been put into operation; AI-based automatic detection and warning technology for voice phishing has been applied to mobile phones; and a facial recognition system has been introduced.
The party and government said, "As the Aug. 28 government measures have been implemented effectively, the voice phishing damage indicators, which had consistently exceeded the previous year's figures every month since the start of the year, fell in Oct.–Nov."
The party and government also decided to speed up legislation to enhance the effectiveness of preventing and punishing voice phishing crimes and providing relief to victims. On the 23rd, a bill was introduced that would have financial companies compensate voice phishing losses within a certain limit. It is known as a no-fault liability system.
Rep. Jo In-cheol met with reporters after the TF meeting and said, "The compensation limit for financial companies will likely be set between 10 million and 50 million won," adding, "It will be decided during the National Policy Committee's deliberations."
In addition, bills on sharing suspected voice phishing information, imposing management responsibility and a duty of prevention on mobile carriers for burner phones, imposing a penalty surcharge on those involved in sending illegal spam, and confiscating criminal proceeds passed the Legislation and Judiciary Committee.
Policy Committee Chair Han Jeong-ae said, "The party and government will not be complacent with current results and will proactively identify policy tasks to respond to evolving voice phishing crimes, including new methods, and will do our best to create a 'safe Korea without voice phishing.'"