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South Korea Financial Regulator to Clamp Down on Voice Phishing Involving Cryptocurrencies

South Korea will expand the existing law on voice phishing to include phone scams related to cryptocurrencies and the authority to recover losses incurred by victims, the Financial Services Commission, the country’s top financial regulator, said Tuesday. The FSC and the ruling People Power Party will propose amendments to the local voice phishing law in April, which will allow financial institutions and crypto service providers to share account information and suspend all suspected accounts across different platforms. (forkast)

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