Gwangju Bank Receives Voice Phishing Prevention Commendation from Financial Supervisory Service

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 25th that it received a commendation from the Financial Supervisory Service (Commissioner Yoon Seok-heon) for preventing voice phishing damage in 2020.

The recipients of this outstanding employee commendation were Seo Yoon-jung, assistant manager at Gwangju Bank Songjeong Branch, and Shin Kyung-ja, assistant manager at Sinandong Branch. Their great interest and proactive response to preventing financial fraud helped prevent a total of 110 million KRW in voice phishing.

Assistant Manager Seo Yoon-jung prevented 30 million KRW of voice phishing from a loan scam where the victim was guided to take a loan and then the loan funds were intercepted. Assistant Manager Shin Kyung-ja sensed something suspicious from a customer requesting unusual banking services and persuaded the customer, who was trying to transfer a prematurely terminated deposit from another bank, thereby preventing 80 million KRW of voice phishing.

To respond to the increasingly sophisticated voice phishing financial fraud, Gwangju Bank has been operating an ‘Integrated AI FDS’ system since last year that comprehensively analyzes terminal information, access information, and transaction details used in electronic financial transactions to detect suspicious transactions and block abnormal financial transactions.

This system, enhanced with artificial intelligence (AI), learns new abnormal transaction data and organically responds to new fraud methods, contributing to the prevention of 1.55 billion KRW in voice phishing over the past year.

Additionally, Gwangju Bank has applied technology to detect malicious apps (APP) in smart banking and implemented a pre-screening system by directly calling customers when executing non-face-to-face loans exceeding 50 million KRW to prevent fraud using non-face-to-face channels.

As a result, among 2,392 high-value non-face-to-face loans totaling 182.3 billion KRW last year, not a single case of voice phishing fraud occurred, marking a remarkable achievement.

Lee Kwang-ho, Vice President of Gwangju Bank, said, “As cyber attacks become more sophisticated, Gwangju Bank is also enhancing security functions and systems to protect financial consumers,” adding, “We will do our best to safely protect our customers’ valuable assets from financial fraud such as voice phishing.”

This content was produced with the assistance of AI translation services.