Advancing FDS and Security Home Services
Enhancing Protection Against Voice Phishing
Kakao Pay announced on June 18 that it is strengthening users' financial security through its artificial intelligence (AI)-based Fraud Detection System (FDS) and user-centric "Security Home" service.
Kakao Pay's FDS detects changes in abnormal transaction patterns using Adaptive Machine Learning (Adaptive ML) technology. The rule-based model identifies abnormal transactions within typical transaction patterns. In May alone, Kakao Pay detected 710,000 suspicious transactions. May is a period when remittance amounts surge due to family-oriented holidays such as Children's Day and Parents' Day, making Kakao Pay's AI technology particularly effective.
The Security Home service is responsible for the financial security of family members. If a malicious application is run, a password is changed, or a suspicious transaction is detected on any family member's device, an immediate notification is sent to all family members. It also supports the setting of a secret code known only among family members to help prevent impersonation crimes. Following recent security incidents, users have shown heightened interest in the service. The number of visitors in the past month more than doubled.
In addition, through its "App Integrated Security Solution," which detects malicious apps, hacking, and tampering attempts, Kakao Pay identified over 50,000 potential threats last month. This service protects users from the leakage of personal information, financial information theft, and electronic financial fraud (phishing) by detecting potential threats. For Android users, the service immediately notifies users upon detection of a malicious app and provides a deletion function.
Furthermore, Kakao Pay offers the "Kakao Pay Vaccine" feature, which allows users to check their own security status. This feature inspects various items, including device jailbreaking, app tampering, emulator usage, debugging, and reverse engineering attempts, to preemptively block malicious attacks.
The monthly number of Security Home service users increased by more than 30% year-on-year. This indicates that the Security Home service is creating a virtuous cycle of raising security awareness among users. The number of security threat detections by Kakao Pay rose from about 50,000 cases between March and December last year to more than 130,000 cases from January to May this year. This is the result of enhancing security features, including the detection of malicious apps targeting virtual assets, since the beginning of this year.
A Kakao Pay representative stated, "As family financial transactions become more active during Family Month, users' interest in financial security has increased further," adding, "We will continue to enhance our security-related services so that users can enjoy safe and convenient financial lives."
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