Black Hat: An International Security Conference Held Since 1997
Financial Security Institute Receives Strong Response for Sharing Results of Year-Long Voice Phishing Threat Analysis
Senior Researcher Heo Hyeji and Principal Researcher Jang Seongchan from the Financial Security Monitoring Center are presenting the results of approximately one year of tracking and analyzing voice phishing threats under the theme "Operation Black Echo: Voice Phishing Using Fake Financial and Vaccine Apps" at Black Hat Asia 2025. Provided by the Financial Security Institute.
The Financial Security Institute announced on the 9th that it presented on the latest voice phishing tactics using fake banking apps at the international security conference 'Black Hat Asia 2025.'
Black Hat is an international security conference held annually since 1997 to share the latest security threats, research, and trends, taking place in the United States, Europe, and Asia.
Heo Hyeji, Senior Analyst, and Jang Seongchan, Lead Analyst of the Financial Security Monitoring Center, shared the results of about a year of tracking and analyzing voice phishing threats under the theme "Operation Black Echo: Voice Phishing Using Fake Financial Apps and Vaccine Apps."
In particular, they received high praise for uncovering the sophisticated attack scenarios of criminal organizations based on the direct collection and detailed analysis of approximately 900 malicious apps.
The main content revealed a multi-stage attack structure where criminal organizations lure victims by posting promotional posts about low-interest loans or policy support funds on social networking services (SNS), then sequentially install fake financial apps and vaccine apps.
Additionally, the attackers separately configure servers according to roles such as malicious app distribution and command control, and apply app obfuscation and encryption technologies to evade detection and tracking, providing a detailed analysis of the evolution of criminal techniques.
The Financial Security Institute urged financial consumers to exercise special caution as recent electronic financial fraud crimes have expanded from voice phishing to smishing and secondhand transaction phishing. It also emphasized the importance of strengthening response systems through information sharing and mutual cooperation with related organizations.
Park Sangwon, President of the Financial Security Institute, stated, "It is very meaningful to share our institute's analysis results at Black Hat Asia, where the world's top security experts gather," adding, "We will strive to create a safe financial environment based on verified analytical capabilities."
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