Financial Supervisory Service

[Financial Supervisory Service]

Crackdown on Online Loan Brokerage Sites Amidst Rise in Illegal Private Lending Damages

The Financial Supervisory Service and related organizations are taking action against online loan brokerage sites amidst a surge in illegal private lending damages reported online.

A joint inspection of five large online loan brokerage sites registered in Gyeonggi Province will be conducted by the Financial Supervisory Service, Gyeonggi Province, Gyeonggi Southern Provincial Police Agency, and Gyeonggi Northern Provincial Police Agency, starting on the 26th.

The inspection will focus on whether personal information is being sold or leaked without permission, whether illegal advertising is being carried out, or whether false or exaggerated advertising is being carried out through online brokerage sites.

Cases related to illegal activities reported to the Illegal Financial Transaction Reporting Center will also be investigated.

The Financial Supervisory Service has announced plans to take strong measures against companies found to have violated regulations, including imposing fines and suspending business operations, in accordance with relevant laws and regulations.

Consumers who suffer from illegal private financial damage while using an online loan brokerage site are urged to report the incident to the Financial Supervisory Service after obtaining evidence such as the details of the damage.