Banks Actively Taking Measures to Prevent Voice Phishing

[Asia Economy Reporter Song Hwajeong] As voice phishing schemes become more sophisticated and rampant, banks are doing their best to prevent voice phishing by implementing various preventive measures.

According to the financial sector on the 3rd, Shinhan Bank recently upgraded its voice phishing prevention platform, 'Anti-Phishing Smart 3.0,' to protect customers' assets and enhance the rights of financial consumers.

The Anti-Phishing Smart 3.0 platform is an upgraded version of Shinhan Bank's existing voice phishing prevention system, applying new digital technologies such as artificial intelligence (AI) deep learning and scenario modeling to implement various customer protection technologies.

Through this platform, Shinhan Bank strengthened phishing scam prevention functions by monitoring fraud-related accounts, extracting suspicious voice phishing information from customers, expanding monitoring information areas, and applying real-time analysis and new scenarios upon discovering new voice phishing crime patterns.

Additionally, the 'Sobo Plus+' platform is a platform that analyzes and utilizes consumer experience data, with its most notable feature being the visualization of core data.

The first phase of this service includes ▲promoting consumer protection through visualization of key consumer protection data ▲building infrastructure to enhance financial consumer trust and internal control ▲strengthening communication between customers and internal staff ▲analyzing customer feedback using AI ▲providing customized coaching to enhance consumer protection capabilities. In particular, AI-based customer feedback analysis enables quick responses to customer inconveniences, and to activate communication between customers and staff, features such as thank-you replies to customer compliments and gift-giving among employees were added.

Shinhan Bank plans to launch the second phase of the Sobo Plus+ platform, which adds new services through the combination and analysis of various consumer protection data, in October this year.

Hana Bank provides a 'Financial Fraud Prevention Service' on its representative mobile banking app 'Hana One Q' to prevent the rapidly increasing phishing scams such as messenger phishing and to protect financial consumers.

The Hana One Q Financial Fraud Prevention Service is a service that provides the latest and major financial fraud type content by combining and analyzing big data related to financial fraud on domestic and international internet and data reported to financial institutions, to protect customers' valuable assets from new types of electronic financial fraud. This service is provided through a partnership with the startup company Data Universe.

Hana Bank frequently notifies users of newly emerging financial fraud types via app-push notifications on the Hana One Q app and allows users to check the latest phishing-related information in the Financial Fraud Prevention Service menu under the Lifestyle & Partnership category of Hana One Q.

Since 2020, Hana Bank has been implementing a customized comprehensive plan to prevent voice phishing, operating various anomaly transaction detection system (FDS) scenarios accumulated by type, such as big data-based monitoring enhancement, response to mule accounts, remote application installation, and overseas remittances. Through this, it is reported that over 14,000 cases of damage were prevented in 2021 alone.

According to the Financial Supervisory Service, the damage amount caused by messenger phishing last year was 99.1 billion KRW, an increase of 165.7% from 37.3 billion KRW the previous year. The number of messenger phishing reports and consultations received by the Illegal Private Finance Damage Report Center within the Financial Supervisory Service also increased by 36.2% (7,720 cases) from 21,307 to 29,027 cases. Consequently, the number of voice phishing crime reports and consultations also rose by 15.9% to 60,453 cases. This accounts for 85.9% of the total 70,371 damage (concern) consultations and reports received by the center last year.