Shinhan Bank to Provide Up to 3 Million Won in Living Expenses for Voice Phishing Victims

Launching the Third Year of the "Voice Phishing Zero" Initiative

Shinhan Bank announced on October 20 that it will launch the third year of its "Voice Phishing Zero" initiative, which includes providing up to 3 million won in emergency living expenses to support and prevent victims of voice phishing.

Photo of Shinhan Bank building.

This initiative is being carried out by Shinhan Bank in collaboration with the Financial Supervisory Service, the National Police Agency, the Community Chest of Korea, and Good Neighbors. It aims to help telecommunications financial fraud victims recover their daily lives and to raise nationwide awareness about voice phishing prevention and financial scams.

In May 2023, Shinhan Bank signed an agreement with the Community Chest of Korea to donate 10 billion won annually for three years, totaling 30 billion won, to promote the Voice Phishing Zero project. Through the first and second phases, the bank provided 15 billion won in living expenses to a total of 5,211 vulnerable victims, offered 1,064 cases of legal consultation and litigation support, delivered psychological counseling to 635 people, provided prevention education to 13,954 individuals, and supplied free voice phishing prevention insurance to 2,732 people.

For the third year of the initiative, which will run until the end of September next year, Shinhan Bank plans to provide up to 3 million won in emergency living expenses to victims of telecommunications financial fraud whose income is at or below 100% of the median income. The bank will also continue to offer legal consultation, civil litigation support, and psychological counseling.

This year, a new "online prevention education" program, open to everyone, has been launched. By taking courses on the online education website using a smartphone or PC, participants can also receive free voice phishing prevention insurance (valid for one year).