South Korean agency develops financial sector AI safety-assessment framework
( August 12, 2026, 01:45 GMT | Official Statement) -- MLex Summary: South Korea’s Financial Security Institute said Wednesday that it has developed a framework to systematically manage risks associated with the financial sector’s accelerating artificial intelligence transformation and to objectively and comprehensively assess AI safety and reliability amid moves by the authorities to ease regulations. The framework was developed in response to a growing need to address risks such as hallucinations, malfunctions and security incidents that could arise from AI systems as financial institutions expand their use of AI into core operations and to establish assessment criteria tailored to the financial sector. The quasi-public agency also said it plans to test and refine the assessment framework through pilot evaluations and aims to have the framework used as an AI safety and reliability verification and certification system under the Basic AI Act.The statement is attached (in Korean)....
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