Seoul Guards Against Scams

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Seoul Guards Against Scams

The Financial Supervisory Service said it will strengthen its lookout for financial sector figures with larcenous ideas.

"Due to the easing of financial regulations recently, the chances of more illegal acts like the cases of Jin Seung-hyun and Jung Hyun-joon are high," an agency official said. The two men were accused of diverting funds for personal use. "We will be on the lookout for foreign-based funds that are controlled by people who were involved in previous financial accidents."

Officials believe several high-risk, high-profit investment funds that have approached investors are related to persons who have been involved in financial scandals in the past.
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