2024.06.27. The Fair Economy — The Korea Internet & Security Agency (Kisa) signed a memorandum of understanding (MOU) with the Financial Supervisory Service on the 27th at the FSS headquarters to jointly respond to cybercrimes exploiting virtual assets.
Amid the recent expansion of the virtual asset market and a rise in cybercrime cases, Kisa and the Financial Supervisory Service agreed to strengthen close cooperation to prevent this.
Kisa is responsible for investigating and analyzing virtual asset-related incidents caused by cyber threats and is researching technology to trace virtual assets involved in cybercrimes.
The Financial Supervisory Service established a Virtual Asset Investigation Bureau to carry out virtual asset unfair trade investigations and promote infrastructure development ahead of the implementation of the Virtual Asset User Protection Act.
Through this MOU, the two agencies will establish an information-sharing and joint response system for cybercrimes using virtual assets. Key areas of cooperation include joint investigation of virtual asset incidents, sharing of information on illegal virtual asset addresses, education and personnel exchange to cultivate specialized talent in investigating virtual assets and incidents, and other matters necessary for protecting virtual asset users. The agencies expect this will enable early and effective responses to cybercrime in the virtual asset market.
Lee Sang-jung, Kisa director, said, "To respond to increasingly sophisticated cybercrime, it is essential not only to develop technology but also to have organic cooperation among investigative agencies and related institutions. Through this MOU, we will strive to share the professional capabilities held by both institutions and build a practical cooperation model."
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