Kakao Bank Launches 'Fraud Report Account Information Service'

Based on TheCheat DB... 'Warning' When Attempting Transfers to Reported Fraud Accounts

KakaoBank announced on the 20th that it will launch the ‘Fraud Reported Account Notification Service.’ With the launch of this service, KakaoBank customers will be able to see a warning message when transferring money to accounts reported for fraud.

KakaoBank has established various financial fraud prevention systems based on its own abnormal financial transaction detection system (FDS). KakaoBank explained that the launch of this service is expected to further strengthen its financial fraud prevention system.

This service is based on the database (DB) of The Cheat, a specialized company in financial fraud prevention services. When a KakaoBank customer attempts to transfer money to an account reported for fraud, a warning message indicating that the account is fraud-reported will be displayed. KakaoBank plans to first introduce this service to general transfers and open banking transfer services, then expand its application scope in the future.

KakaoBank has continuously enhanced technologies and services related to financial fraud prevention. Based on the FDS, if a transfer transaction is analyzed as suspicious, a damage prevention notification message is sent to the customer before the transfer, and if the customer is judged to be at risk of voice phishing, a ‘Voice Phishing Questionnaire’ is provided.

Additionally, through the ‘Malicious App Detection Service,’ KakaoBank detects malicious applications or remote control apps installed on customers’ mobile phones to prevent voice phishing, and has systems such as advanced ID copy detection technology.

A KakaoBank official said, “We expect that this fraud reported account notification service will help prevent financial accidents. We will do our best to ensure customers can use safe financial services through continuous efforts such as AI and machine learning-based FDS detection and damage prevention monitoring.”