Korea's FSS and KORFIN form taskforce to curb online fraudulent payme…

South Korea's Financial Supervisory Service and the Korea Fintech Industry Association have launched a taskforce to develop standard guidelines for fraud detection and anti-money laundering coordination across payment gateway companies by year-end. The council aims to balance security with user convenience as fraudulent payment methods grow more sophisticated. If you're a payment gateway or fraud detection vendor in Korea, the regulator just said individual company solutions aren't cutting it anymore—expect standard FDS protocols and AML case-sharing to become mandatory within months. That's a floor you'll need to build to, or a feature you can now sell as compliance-ready.