By Do Je-hae
Staff Reporter
Opposition parties are showing a negative reaction to the National Intelligence Service's (NIS) latest move to gain access to information on financial transactions amounting to 20 million won or more without a warrant.
The agency is reportedly seeking legislative revisions to obtain such information from an investigative unit of the Financial Services Commission (FSC).
``The NIS claims that the revision is aimed at preventing funding for terrorism and money-laundering, but we believe it may lead to a violation of basic human rights,'' Rep. Lee Sang-min of the minor Liberal Forward Party (LFP) said Tuesday.
``If the spy agency obtains such rights, they may be improperly used against certain figures,'' he added.
The main opposition Democratic Party (DP) also expressed disapproval of the revision that would enable the NIS to exercise the right to share sensitive information with the FSC regarding investigations into financial wrongdoings and terrorism funding.
Currently, the FSC shares such information with the prosecution, police, the National Tax Service, the National Election Commission and the Korea Customs Service.
The NIS has maintained that a legislative amendment is necessary for the country's membership of the Financial Action Task Force, an international body for fighting money laundering and terrorism financing.
Korea is currently an observer in the organization with a membership of 32 countries.