Shinhan Financial Group Signs MOU with National Police Agency to Strengthen Cooperation in Preventing Financial Crime Victimization

Shin Yong-byeong, Chairman of Shinhan Financial Group (right), and Kim Chang-ryong, Commissioner of the National Police Agency, are taking a commemorative photo after signing a business agreement to prevent and eradicate financial crimes affecting the public, such as telephone financial fraud.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 26th that it held a business agreement ceremony with the National Police Agency to prevent and eradicate financial crimes affecting the public, such as telephone financial fraud.

First, through this agreement, Shinhan Financial decided to establish a hotline with the National Police Agency to share major cases of telephone financial fraud and new and variant methods in real time.

Based on this, Shinhan Financial plans to receive various information from the National Police Agency, such as recent types of voice phishing occurrences and precautions, and share it with branches nationwide to proactively block crime occurrences. They also agreed to jointly prepare preventive measures against damage cases and criminal methods using malicious applications (apps), which have been rampant recently, and to strengthen security.

Furthermore, starting from the second half of this year, Shinhan Financial plans to expand the 'Hope Hero Project,' which has been in operation since 2018, to select and award citizens and meritorious police officers who contributed to preventing damage from financial crimes such as telephone financial fraud and illegal private financing, as well as to apprehend suspects, through the "Protectors of the People’s Economy" awards.

Shinhan Financial and the National Police Agency plan to operate a joint 'Task Force (TF) for Eradicating Financial Crimes Affecting the Public' to promptly implement the business agreement and strengthen specific and continuous cooperation between the two organizations.

Kim Chang-ryong, Commissioner of the National Police Agency, said, "At a time when cooperation between the police and financial institutions is more important than ever to eradicate financial crimes affecting the public, such as telephone financial fraud, which cause serious damage to ordinary people, we will strongly crack down on crimes infringing on the people’s livelihood and actively cooperate with related organizations such as financial institutions to protect the people’s economy and realize citizen-centered responsible investigations."

Cho Yong-byeong, Chairman of Shinhan Financial Group, said, "Preventing financial crime damage and crimes is an issue that financial institutions, as well as the police, must prioritize. Going forward, we will cooperate with the National Police Agency to resolve financial crimes affecting the public and focus all the capabilities Shinhan can offer."