Financial authorities will crack down on suspicious real estate transactions following the government's tightened mortgage restrictions as part of efforts to curb soaring housing prices.

Such measures were discussed on Thursday during a meeting led by the Financial Services Commission(FSC) to check up on household debt.

Earlier this week, the government capped all mortgages at 600 million won, or around 441-thousand U.S. dollars, for any home purchase in the capital region, while prohibiting home-backed loans for multiple-homeowners.

The Financial Supervisory Service(FSS), along with the FSC, will bolster inspection of business loans, and call in loans upon detection of irregularities, such as misappropriation in housing transactions.

The National Tax Service(NTS) will focus on expediency in parents' transfer of homes to children, including sales at lower-than-market prices or tax evasion.