Regulatory Alerts2026-07-15 | 87351Added · Updated
Rules Change Proposed to Enable Loss Refund from Voice Phishing Scams Involving Virtual Assets
The Financial Services Commission proposes revisions to the Enforcement Decree of the Special Act on the Prevention of Loss Caused by Telecommunications-based Financial Fraud to include virtual assets in vishing-related loss relief. The amendment establishes that refunds for stolen virtual assets will be paid in the same type and quantity of asset, or in market value if mixed with money, calculated at the time the fraudulent account is frozen. It also designates specific entities to convert stolen virtual assets into cash for victims who do not use virtual assets. The proposal enters a 40-day comment period from July 15 to August 24 and is scheduled to take effect on October 1, 2026.