"Electronic banking frauds in South Korea have more than halved in the past month since the financial regulators implemented stiffer measures to curb the illegal activities, the financial regulator's data showed Tuesday.
The number of electronic banking frauds reported since Sept. 26 when the new rules kicked in came to 749 cases, down 51.5 percent from 1,545 cases reported to the regulator in the previous month, according to the Financial Services Commission (FSC).
The damage is valued at some 1.3 billion won (US$1.22 million), compared with 3.2 billion won tallied over the cited period, the FSC added." Continue Reading
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