Financial Supervisory Service Holds Award Ceremony for '2021 Voice Phishing Damage Prevention Best Practices Competition'

11 Model Cases Selected, Prize Money and Certificates Awarded

[Asia Economy Reporter Kwangho Lee] The Financial Supervisory Service announced on the 21st that it selected a total of 11 exemplary cases in the '2021 Voice Phishing Damage Prevention Best Practices Competition' and awarded certificates and prize money.

In this competition, a total of 152 prevention cases were submitted from various financial sectors including banks, securities, card companies, savings banks, and mutual finance, across two categories: damage prevention system improvement and on-site damage prevention.

In the damage prevention system improvement category, proactive preventive measures by non-bank financial companies reflecting the recent increase in voice phishing damage exploiting open banking, and the banks' swift improvement efforts responding to recent new methods such as financial company impersonation text messages stood out. In the on-site damage prevention category, a large number of effective suspicious sign types and detection techniques learned on-site were collected regarding various methods centered on face-to-face extortion-type voice phishing, including child kidnapping impersonation and loan fraud types.

The awarded works were finally selected through a rigorous review by a judging panel composed of officials from each financial association and central organization, as well as external experts.

As a result, the grand prize in the damage prevention system improvement category was awarded to Mr. Park OO of Shinhan Card FD Team for the case of 'Proactive Introduction of a Voice Phishing Pre-Prevention System in the Card Sector,' and the grand prize in the on-site damage prevention category was awarded to Mr. Jung OO of IBK Gimpo Daegot Branch for the case of 'Voice Phishing Damage Prevention through Thorough Customer Verification.' In addition, three excellence awards and six encouragement awards were selected across the two categories.

A Financial Supervisory Service official stated, "We plan to widely provide the winning cases of this competition for educational activities related to voice phishing in the financial sector and related organizations." He added, "Especially, the exemplary cases in the on-site damage prevention category include many vivid pieces of information on recent new methods from the field, and we plan to share them with the financial sector through each financial association and central organization."

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