SK FSS Crackdown on Insurance Fraud

Updated on: Mar 26, 2026

Latest Event


  • Mar. 2026 Reporting Extended
  • On Mar. 24, 2026, SK FSS said it will extend and expand its special insurance fraud reporting and reward program while strengthening coordination with law enforcement to improve detection.
  • The scope of reportable fraud is expanded from indemnity health insurance fraud to include both indemnity and auto insurance fraud.
  • The expanded scope now covers medical institutions, doctors, brokers, auto repair and rental car company personnel, and drivers involved in intentional accidents.
  • The reward scheme is broadened, maintaining maximum payouts of KRW 50mn for medical insiders, KRW 30mn for brokers and newly included auto-related business personnel, KRW 10mn for patients, drivers, passengers, and other members of public.
  • The reporting period is extended from Jan. 12–Mar. 31, 2026 to Jan. 12–Oct. 31, 2026.

On Jan. 11, SK FSS issued a plan to run a reporting/reward period.

  • SK FSS said it will operate a special reporting/reward period from Jan. 12 until Mar. 31, 2026 together with the insurance industry to eradicate indemnity insurance fraud.
  • Reporting targets include hospitals/clinics, doctors, brokers suspected of insurance fraud; for rewards, KRW 50mn will be given for hospital/clinic employees who report.
  • KRW 10mn will be given where hospital service users, including patients, report a case.
  • Where a report is highly credible and requires urgent action, SK FSS will immediately request an investigation on suspected hospitals and support the police's investigation.
  • Mar. 2026 Reporting Extended
  • On Mar. 24, 2026, SK FSS said it will extend and expand its special insurance fraud reporting and reward program while strengthening coordination with law enforcement to improve detection.
  • The scope of reportable fraud is expanded from indemnity health insurance fraud to include both indemnity and auto insurance fraud.
  • The expanded scope now covers medical institutions, doctors, brokers, auto repair and rental car company personnel, and drivers involved in intentional accidents.
  • The reward scheme is broadened, maintaining maximum payouts of KRW 50mn for medical insiders, KRW 30mn for brokers and newly included auto-related business personnel, KRW 10mn for patients, drivers, passengers, and other members of public.
  • The reporting period is extended from Jan. 12–Mar. 31, 2026 to Jan. 12–Oct. 31, 2026.
Regulators
SK FSS
Entity Types
IB; Ins
Reference
PR 3/24/2026; PR 1/11/2026
Functions
Compliance; Financial; Fraud; Legal; Reporting
Countries
South Korea
Category
State
N/A
Products
Auto/Motorcycle; Hospital Indemnity; Insurance; Insurance-Health
Rule Type
Final
Regions
AP
Rule Date
Jan 11, 2026
Effective Date
Oct 31, 2026
Rule ID
282995
Linked to
N/A
Reg. Last Update
Mar 24, 2026
Report Section
International