KB Kookmin Bank Opens New Monitoring System for Preemptive Voice Phishing Prevention
Over 2-Month Pilot Operation, Approximately 640 Cases and Over 5.5 Billion KRW in Financial Fraud Prevention
[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 24th that it has launched a 'New Monitoring System' that has been enhanced to prevent voice phishing. With the full operation of this 'New Monitoring System,' it is expected to enable prompt responses to various types of voice phishing scams.
The 'New Monitoring System' is a financial fraud prevention system that detects signs of voice phishing by analyzing customers' financial transaction patterns and fund flows in real time.
Over the past year, KB Kookmin Bank has devoted efforts to increasing the detection rate of voice phishing scam transactions in the existing monitoring system by complex modeling of financial fraud transaction analysis requirements. In fact, during the two-month pilot operation of the 'New Monitoring System,' approximately 640 cases and more than 5.5 billion KRW worth of financial fraud were prevented.
Going forward, KB Kookmin Bank plans to continuously build a prevention system that fundamentally blocks voice phishing transactions by combining information collected through the 'New Monitoring System' with IT technology to improve detection rates of voice phishing scam transactions.
Previously, to respond to increasingly sophisticated financial fraud methods, KB Kookmin Bank launched a task force last year to strengthen consumer protection across the bank and reduce forged bank accounts, and has been working to establish a comprehensive voice phishing prevention system using the latest IT techniques.
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A KB Kookmin Bank official stated, "As voice phishing scam methods evolve, it has become important to respond proactively and preemptively," adding, "We will continue to apply various IT technologies throughout our operations and introduce consumer protection measures that lead the entire financial sector."
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