Analyzing Message Content with Technology for Instant Alerts...
Preventing Financial Fraud for Free
Supporting Financial Authorities' Consumer Protection Policies
by Blocking Voice Phishing at the Source
Woori Bank is introducing the 'AI Smishing Message Protection Service' to safeguard customers from increasingly sophisticated text payment scams (smishing).
According to the Financial Supervisory Service, the number of reported and blocked text payment scams has surged over the past three years. Woori Bank explained that more than half of these scams involve impersonating public institutions, which calls for heightened vigilance and proactive prevention measures, prompting the introduction of this new service.
The 'AI Smishing Message Protection Service' utilizes 'V3 Mobile Plus,' a mobile financial security solution from AhnLab. By leveraging AI technology, the service automatically detects and notifies customers of suspicious text messages received on their smartphones, helping to prevent financial fraud.
This service is available only to customers using the latest version of the Woori WON Banking app on Android devices running OS 8.0 or higher. Customers can easily apply through the 'MY Security Service' menu within the Woori WON Banking app, and the service is provided free of charge, allowing users to benefit from fraud prevention without any additional cost.
Through the introduction of this service, Woori Bank aims to strengthen its defense system against cyber financial crimes and reduce voice phishing damages by blocking text payment scams, actively supporting the financial authorities' consumer protection policies.
A Woori Bank representative stated, "Preventing financial fraud before it occurs is more important than responding after the fact," and added, "We will continue to expand inclusive finance by leveraging AI and digital technologies to protect our customers' daily lives through financial fraud prevention services."
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