The Financial Supervisory Service (FSS) is rolling out a public awareness campaign to combat insurance fraud involving brokers, including entities such as Prime Economy Hospital, clinics and insurance planners.
The campaign will target both online and offline channels and initially focus on high-traffic areas like Gangnam Station—known for its concentration of medical facilities—before expanding to broader segments of the medical community.
The initiative is part of the FSS’s efforts to address the rising damage caused by fraudulent insurance activities.
The Financial Supervisory Service (FSS) reported that insurance fraud detected last year amounted to KRW1.15tn ($1.15bn), affecting over 100,000 victims. The schemes have grown increasingly sophisticated and organised, often involving collusion between hospitals, clinics and brokers to forge or alter medical certificates.
“We will actively cooperate and respond jointly with the police, the National Health Insurance Service, the Life and Non-Life Insurance Associations, and insurance companies to ensure strict punishment as well as publicity and preventive activities to prevent insurance fraud,” a FSS official said in a statement.