The Financial Supervisory Service (FSS), a financial regulator, began an on-site consulting inspection of Toss Securities on the 25th after recurring system failures. Scheduled to end on the 28th, the review is intended to diagnose the failures and assess the company’s information technology (IT) internal controls, rather than identify legal violations or impose sanctions. FSS officials interviewed IT staff and executives, including the Chief Information Officer (CIO), about staffing and systems investment, internal decision-making and support structures. Toss Securities was selected because of the frequency of its outages and the size of its user base; National Assembly National Policy Committee data showed it accounted for 18% of securities-industry complaints in the first quarter of this year. Lina Insurance Co., Ltd., Standard Chartered Bank Korea and Shinhan Card underwent comparable inspections in the insurance, banking and card sectors, respectively. The initiative follows the government’s January request for the FSS to move from sanctions-focused inspections toward preemptive, consulting-based supervision. In March, the FSS said its digital and IT work plan would introduce preventive supervision and inspections to identify and address IT risks early.