According to COINOTAG news on September 26, reported by The Block, the Korean Personal Information Protection Commission (PIPC) has imposed a fine of 1.1 billion won (approximately $830,000) on Worldcoin and its developer, Tools For Humanity (TFH), due to alleged infractions in personal data collection and transmission practices. The commission highlighted that Worldcoin’s foundation failed to properly inform users about the purpose and retention period of their iris data collection. Additionally, PIPC noted that until March 22, the biometric data consent form lacked a necessary Korean translation. Specifically, the Worldcoin Foundation received a penalty of 725 million won (roughly $545,000) for mishandling sensitive information and data transfer abroad. Furthermore, TFH was fined 379 million won (around $285,133) for not fulfilling their responsibilities regarding international data transmission. The commission also mentioned that both entities did not disclose the recipient countries of the personal information and the contact details of involved individuals, as mandated by local regulations.
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