국회도서관 국가전략정보포털

Title page

Contents

Authors and Contributors 6

Acronyms 7

Executive Summary 8

1. Introduction 12

1.1. Fintech-Related Consumer Risks and FCP Regulation 12

1.2. The Aims of this Note 13

1.3. Fintech Products Covered 14

1.4. Areas Outside Scope 15

2. Cross-Cutting Risks and Related Regulatory Approaches 16

2.1. Gaps in Regulatory Perimeter 17

2.2. Fraud or Other Misconduct 20

2.3. Platform/Technology Unreliability or Vulnerability 24

2.4. Business Failure or Insolvency 25

2.5. Consumers Are Not Provided with Adequate Information 28

2.6. Product is Unsuitable for a Consumer 37

2.7. Conflicts of Interest and Conflicted Business Models 41

2.8. Risks from Algorithmic Decision-Making 45

2.9. Data Privacy 46

3. Implementation Considerations 49

3.1. Importance of Country Context and Striking an Appropriate Balance 49

3.2. Assessing the Market, Consumer Experiences, and the Current Regulatory Framework 49

3.3. Determining the Right Regulatory Approach, Including Considering Alternatives 50

3.4. Effective Supervision and Awareness-Building Will Also Be Critical to Impact 52

3.5. Complementary Measures 53

Appendix 1: Overview of Consumer Risks and Regulatory Approaches by Type of Fintech Product 54

Bibliography 66

Table 1. Fintech Products Discussed in This Note 15