IBK Industrial Bank Supports Free Enrollment in Voice Phishing Compensation Insurance

Compensation up to 10 Million KRW per Person for Small Business Owners and Financially Vulnerable Groups

IBK Industrial Bank announced on the 16th that it will implement the 'Safe Call, Safe Money with IBK' project to prevent voice phishing and support victims, which was discussed at a meeting hosted by the Financial Supervisory Service held on the 15th at Yeomni Social Welfare Center in Mapo-gu, Seoul.

This project targets small business owners and financially vulnerable groups susceptible to voice phishing and includes ▲ conducting voice phishing prevention education ▲ providing free support for subscribing to victim compensation insurance for those who complete the education (compensation up to 10 million KRW per person) ▲ offering emergency living expenses, medical expenses, legal and psychological counseling fees, and self-employment consulting for voice phishing victims.

At the meeting, Kim Mi-young, head of the Financial Consumer Protection Division at the Financial Supervisory Service, stated, “Financial companies must strive to protect groups vulnerable to financial crimes,” and added, “We expect that individual financial companies’ support projects will serve as a catalyst to spread positive influence throughout the financial sector.”

An IBK Industrial Bank official said, “Through this meeting, we will actively cooperate with financial authorities to protect financial consumers and eradicate financial crimes that infringe on people’s livelihoods, doing our best to create a safe financial ecosystem.”

Meanwhile, on the 28th of last month, IBK Industrial Bank signed a business agreement with the Korea Social Welfare Council and donated 300 million KRW in sponsorship funds necessary for the ‘Safe Call, Safe Money with IBK’ project. Additionally, IBK Industrial Bank is actively conducting age-tailored educational programs targeting soldiers, university students, small business employees, and elderly users of senior welfare centers to strengthen efforts to prevent voice phishing.