Shinhan Bank "We Capture 'That Guy's Voice' Heard at Night"

Implementation of Nighttime Monitoring to Prevent Voice Phishing Damage

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 21st that it will extend its voice phishing damage prevention monitoring to nighttime hours to prevent voice phishing damage occurring after banking hours.

Since February, Shinhan Bank has been enhancing its 'Anti-Phishing Platform' and conducting monitoring to detect whether malicious applications (apps) are installed, thereby preventing voice phishing damage in advance. By actively notifying customers with malicious apps via messages and phone calls about attempted crimes, the bank has prevented damage affecting 724 people and totaling 14.7 billion KRW in just over two months.

After strengthening damage prevention monitoring, Shinhan Bank has seen an increase in cases where voice phishing criminals attempt crimes during nighttime hours after bank operations have ended or demand the deletion of the Shinhan SOL app. Therefore, the bank decided to conduct monitoring from 6 PM to 11:30 PM during nighttime hours.

In March, the bank completed a system upgrade to detect early signs of voice phishing even if customers delete the Shinhan SOL app. It also hired new employees with banking experience to be in charge of nighttime monitoring, and plans to start nighttime monitoring from the end of April after two weeks of preliminary training.

Shinhan Bank is redesigning various systems, processes, and policies to protect consumers. In particular, it is investing generously in dedicated personnel and development costs for voice phishing damage prevention tasks, and plans to build a stronger damage prevention platform by integrating internal and external technological capabilities.

A Shinhan Bank official said, “We are promoting digital transformation of anti-money laundering and suspicious financial transaction detection tasks to protect customer assets, and have achieved results by developing and enhancing the ‘Anti-Phishing Platform’ to block crimes before customers are exposed.” He added, “We will continue to prioritize consumer protection as our core value and do our best to become a safe bank where customers can trust and entrust their assets.”