South Korea Expands Fraud Prevention to Include Virtual Assets

South Korea's National Assembly has approved an amendment aimed at aiding victims of voice phishing scams in recovering lost virtual assets. According to NS3.AI, this legislative change broadens the scope of recoverable assets from traditional money to include virtual assets. The amendment mandates that cryptocurrency exchanges adhere to fraud prevention measures similar to those used by conventional financial institutions. Additionally, these exchanges are required to participate in the ASAP suspicious transaction information-sharing system, enhancing their role in combating fraud.