Hyundai Card Wins Visa Champion Security Award
Selected as the Only Domestic Card Company This Year with Differentiated FDS Technology and the Lowest Accident Rate
[Asia Economy Reporter Ki Ha-young] Hyundai Card announced on the 4th that it is the only domestic card company to receive the 'Champion Security Award' selected at the Visa Security Summit this year.
The Visa Security Summit is the largest security event in the Asia-Pacific region hosted by Visa. It awards the Champion Security Award to six issuers that demonstrate world-class risk management capabilities in areas such as information security and incident prevention. Hyundai Card was recognized for its differentiated card fraud prevention capabilities and efforts, making it the only domestic card company to receive the award this year.
In particular, Hyundai Card received high praise for building an AI-based Fraud Detection System (FDS) and implementing an early detection function for BIN attacks, which use unique numbers created by arbitrary combinations of card numbers, demonstrating advanced FDS technology and exemplary incident management within the card industry.
Hyundai Card operates an organization dedicated to handling card theft, loss, and forgery incidents, and professionally performs prevention, detection, and incident handling tasks related to customer information leaks and fraudulent card use. Especially, by operating an advanced FDS 24/7 throughout the year, it minimizes card incidents and has established a close cooperation system with external investigative agencies for smooth incident investigation and handling.
A Hyundai Card official said, "We have built an AI-based FDS and implemented an early detection function for BIN attacks to ensure that customers can use their cards with peace of mind."
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Meanwhile, Hyundai Card has previously received global top 3 honors, including the 'Risk Management Award' from Visa in 2018 for excellence in incident management capabilities and FDS advancement, and the 'Security Quality Award' in 2017.
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