Banks push back against proposed no-fault compensation for voice phishing victims
“We will actively pursue the introduction of a no-fault liability system to strengthen the financial sector’s accountability for phishing crimes and provide more effective relief for victims,” Lee said.Two bills incorporating the measure are pending in the National Assembly. With the financial regulator throwing its weight behind the proposal, discussions are expected to resume during the second half of this year’s parliamentary session. The proposed compensation cap ranges from 10 million won ($6,850) to 50 million won.
- ▪“We will actively pursue the introduction of a no-fault liability system to strengthen the financial sector’s accountability for phishing crimes and provide more effective relief for victims,” Lee said.Two bills incorporating the measure ar
- ▪With the financial regulator throwing its weight behind the proposal, discussions are expected to resume during the second half of this year’s parliamentary session.
- ▪The proposed compensation cap ranges from 10 million won ($6,850) to 50 million won.
Korea Times News publishes from South Korea and files mainly under news. We currently carry 103 of its stories.
Story provenance
Source · retrieval · rights · ranking — open for full record
inspect →
Attribution is not the same as permission. This drawer separates discovery metadata, excerpts, WeSearch-generated summaries, reuse status, and whether the publisher receives the visit. Nothing here claims a legal grant the publisher has not made.
Record
| Original publisher | Korea Times News |
| Canonical URL | https://www.koreatimes.co.kr/economy/20260727/banks-push-back-against-proposed-no-fault-compensation-for-voice-phishing-victims?utm_source=rss |
| Publication time | Mon, 27 Jul 2026 12:07:02 GMT |
| Retrieval time | 2026-07-27T12:12:32.939Z |
| Last seen | 2026-07-27T12:12:32.939Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | Kbd0po5u437m · 1 stories |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
Rights status (four layers)
WeSearch handling by dimension
| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
gettyimagesbankThe government is pressing ahead with plans to introduce a no-fault compensation scheme that would require banks and other financial firms to reimburse victims of voice phishing scams regardless of whether they were at fault, despite mounting industry opposition, according to officials Sunday.Banks argue the measure unfairly holds them liable for crimes they neither have the authority nor the means to investigate, warning that the additional costs could ultimately be borne by consumers through higher fees or less favorable lending rates.Financial Services Commission Chairman Lee Eog-weon reaffirmed the government’s commitment to the initiative at a meeting last month with the heads of Korea's five largest financial groups — KB, Shinhan, Hana, Woori and NH NongHyup.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Korea Times News.
Discussion
0 commentsMore from Korea Times News
