Acknowledging this digital myopia, the Korea Deposit Insurance Corporation (KDIC) took a pioneering step in July 2021 by introducing the world s first, Scheme to Support the Recovery of Misdirected Wire Transfers. This initiative aims to address the overlooked issue of financial consumers experiencing losses due to erroneous wire transfers, an issue that has remained in the shadows of digital finance.
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With the global economy s projected growth for next year slowing amid increased uncertainties, the Korea Deposit Insurance Corporation (KDIC) aims to bolster its crisis response monitoring system for the domestic financial sector, the agency s head said Friday.