FSS holds financial fraud and illegal finance prevention class for youth

Real voice-phishing recordings and short-form videos used to raise awareness

Financial Supervisory Service Director Lee Chan-jin. The photo shows him conducting a financial education session for soldiers at the Army's Second Operations Command in Suseong-gu, Daegu, in July. [FSS]
Financial Supervisory Service Director Lee Chan-jin. The photo shows him conducting a financial education session for soldiers at the Army's Second Operations Command in Suseong-gu, Daegu, in July. [FSS]

Financial Supervisory Service Director Lee Chan-jin visited a classroom for North Korean defector youth Monday, playing recordings of real voice-phishing calls and warning students about the dangers of illegal gambling and financial fraud. Because many of the students were born in China and have limited Korean proficiency, the lecture was conducted with the help of a Chinese interpreter.

The FSS said Lee visited Yeomyung School in Gangseo-gu, Seoul, where he delivered a financial education session on preventing financial fraud and illegal financial activity. Founded in 2004 to help students from North Korean backgrounds adjust to life in South Korea, Yeomyung School is Seoul's only licensed alternative school for North Korean defector youth.

The lecture was part of a relay speaker series organized by the Integrated Gambling Supervision Commission during its "Youth Cyber Gambling Awareness Week." The commission's chairman spoke first, on Sept. 14, followed by the education minister on Sept. 17, with Lee participating as the third speaker.

A Chinese interpreter relayed the lecture content in real time, and the educational materials were also prepared in Chinese, allowing students to more easily understand the risks of illegal gambling, the types of financial fraud, and how to protect themselves.

Lee also employed tools designed to sharpen awareness. He played audio from an actual voice-phishing call and screened short-form videos on avoiding illegal gambling and proxy deposit scams — a form of illegal lending in which small amounts of cash are offered to cash-strapped youth in exchange for exorbitant fees. Such schemes are frequently linked to efforts by young people to fund gambling.

"Gambling is closer to everyday life than you might think, and it is easy to get drawn in out of curiosity or for fun — but the consequences are never trivial," Lee said, urging students to exercise particular caution. He also encouraged the students in their studies and expressed hope that they would grow into future leaders.

After the session, Lee passed along a relay message — "Safe and healthy financial lives for youth, illegal gambling OUT!" — and named the next speaker in the series.

The educational materials used in the session are available to the public through the FSS's e-Financial Education Center. "We will continue working through systematic financial education for youth to help them build sound financial values and lead stable financial lives," the FSS said.

Meanwhile, youth gambling has become an increasingly serious problem. According to data obtained from the Korean National Police Agency by Rep. Kim Jun-hyeok of the Democratic Party of Korea, a member of the National Assembly's Education Committee, 267 teenagers were arrested for cyber gambling in the first seven months of this year — already surpassing the full-year total of 266 recorded last year.


won@heraldcorp.com