LG Uplus and KT Partner with Korea Federation of Banks to Advance Voice Phishing Prevention Systems

Collaboration Between Banks and Telecom Companies
Improving the Accuracy of Voice Phishing Detection

LG Uplus announced on June 1 that it had signed a business agreement with the Korea Federation of Banks and KT to eradicate voice phishing.

Through this agreement, LG Uplus, KT, and the Korea Federation of Banks will collaborate to advance systems for preventing voice phishing damage. In addition, they plan to cooperate in responding to voice phishing crimes by establishing a joint publicity framework.

LG Uplus signed a business agreement with the Korea Federation of Banks and KT to eradicate voice phishing. On the afternoon of the 30th, at the Korea Federation of Banks building, Lee Hyunseok, Vice President of KT, Lee Taehun, Executive Director of the Korea Federation of Banks, and Lee Jaewon, Vice President of LG Uplus, posed for a commemorative photo. (From left) Photo by LG Uplus

The three companies have agreed to upgrade their voice phishing prevention systems based on mutual information sharing. Specifically, the Korea Federation of Banks will provide banking sector data to enhance the voice phishing detection systems of telecommunications companies. This includes databases of wired and wireless outgoing phone numbers, as well as advertising message data.

LG Uplus and KT will each provide AI analysis information from their own voice phishing detection systems to help advance the banking sector’s abnormal transaction detection systems.

Lee Jaewon, Vice President of LG Uplus, stated, "Through this agreement, collaboration between the telecommunications and financial sectors will help minimize customer losses from voice phishing. Based on the strengths of our AI service, Exio, which customers can use with confidence, we will build a safe and trustworthy financial and telecommunications environment to provide services that everyone can rely on."

Lee Hyunseok, Vice President of KT, also said, "Through this agreement with the Korea Federation of Banks, we have established a dual-layered protection system in both the telecommunications and financial sectors. KT will continue to advance AI voice phishing detection technologies, such as the Whowho app, to ensure that no customer suffers from voice phishing damage."

Lee Taehun, Executive Director of the Korea Federation of Banks, commented, "Recently, voice phishing crimes have become more sophisticated by combining with IT technologies, and public concern over personal information leaks is greater than ever. Therefore, cooperation between the financial and telecommunications sectors is more essential than at any other time. This agreement is significant in that it expands the scope of cooperation between the two industries and lays the groundwork for jointly building infrastructure to prevent voice phishing damage."