Korea moves to tighten telecom fraud controls and ownership oversight
South Korea's ministry of science and ICT has approved amendments to the Telecommunications Business Act aimed at strengthening controls on telecom fraud and reinforcing oversight of major communications operators. The amendments, approved by the Cabinet, would prohibit the manufacture, import, distribution, sale and rental of caller ID manipulation devices, including SIM boxes, which are commonly associated with voice phishing schemes. Violations would be punishable by up to three years in prison or fines