“Illegal financial damage is also on the rise. 43 of all customers have been confirmed to have suffered illegal financial damage, and the method has diversified to illegal private financing, micropayment cash, and romance phishing.”
It’s part of the article on the 4th. The Jeonnam Ilbo introduced ‘cashification of small payments’as an example of ‘illegal finance’. However, on April 2, two days before the article was published, the Jeonnam Ilbo published an illegal advertisement called “Cashing in Small Payments.”. The article said, “Cashing in small payments for official registration소액결제현금화companies’ gift certificates, credit cards, and mobile phones is easy and simple to apply for.”. The article contains an advertisement image of a “gift card”company.
Articles on “cashification of small payments”by the Financial Supervisory Service have been pouring out from portals, and disappearing over time. “Cashization of small payment” refers to deducting fees and paying cash immediately after handing over information such as a certification number to a company after paying for gift certificates and game items. It is mainly used by people in need of “emergency”, but in reality, it is highly likely to buy high-interest loans.
In January, the Daehan Financial Daily, the Environmental Daily, Weekly Today, the Kumgang Ilbo and News Rep sent articles promoting “cash of small payments.”. However, as time went by, these articles disappeared.
The article is about promoting ‘ticket company’. The article featured an advertising image that said, “Quick deposit within two minutes of 24-hour consultation.”. This article also mentioned the website, Kakao Talk ID and phone number of the company, and said, “You can prepare the necessary cash in about five minutes, and the entire process is simple, so more and more people are using it in an urgent situation.”.
Such advertising articles are still appearing and disappearing. In April, media outlets such as Det News 24, Gyeongnam Daily, Chungbuk Innews, Jeonnam Ilbo, Today Gwangju Jeonnam, and Bicycle Life published advertisements for “Cashing in Small Payments.”. Among these media outlets, I posted articles every day There is a place to erase.
These advertising articles are made by media promotion agencies sending articles through affiliated media when a “small payment cashing”company requests a media promotion agency. For the effect of advertising, we sell to media affiliated with portals.
‘Cashing in small payments’ business is illegal. The Information and Communication Network Act stipulates that “the act of purchase at a discount on goods purchased and used by users after requiring users of telecommunications billing services to purchase and use goods, etc. through telecommunications billing services”will be subject to “imprisonment of up to three years or a fine of up to 30 million won.”. The Financial Supervisory Service issued a press release in June last year, pointing to “cashification of small payments”as a type of illegal advertising that has been soaring.
The problem is that “press coverage”is a blind spot in response to the cashing of small payments. Last year, the Financial Supervisory Service asked the Korea Communications Standards Commission for illegal financial advertisements, such as cashing in small payments, to shut down the site, delete postings and suspend accounts, but did not respond to “press reports.”. A Financial Supervisory Service official said, “Media reports cannot be defined as advertisements, so it is difficult to judge.”.
Internet postings can be deleted because they are ‘communications’, but media reports on the Internet are free from regulations because they are subject to separate laws such as the Press Arbitration Act. Media reports can cause more damage to take advantage of the trust of the media, but it is rather difficult to respond.
How is the portal responding? Portal Naver and Daum’s articles will be kicked out if there is a problem after the News Alliance Evaluation Committee detects irregularities. The alliance evaluation committee has established related regulations as it often uses the influence of portal affiliated media to send unfair advertising articles. The alliance evaluation committee’s regulations stipulate that advertisements disguised as articles are subject to sanctions “when the company’s sales information (phone number, e-mail address, account number, homepage address, etc.) is specifically specified.”.
“We are aware of related issues and are actually imposing sanctions,” a portal official said. “As media that have been re-evaluated or decided to be expelled continue to publish articles that violate regulations during the remaining period, we have recently introduced measures to prevent the exposure of media articles until they are kicked out.”.
Unlike simple advertising articles, “Cashization of small payment” causes substantial damage to consumers, which will inevitably lead to damage unless other regulations are applied in addition to “advertisements disguised as articles.”. Damage is continuing even at this moment.