Shinhan Card Prevented 76.1 Billion KRW in Voice Phishing Incidents

Introduction of AI-Powered Malicious App Installation Prevention Solution
Accident Prevention Cases and Amounts Increased by 249% and 173% Year-on-Year, Respectively

[Asia Economy Reporter Ki Ha-young] Shinhan Card has achieved 76.1 billion KRW in voice phishing prevention performance this year.

Shinhan Card announced on the 28th that by integrating artificial intelligence (AI) technology into the Fraud Detection System (FDS), the number and amount of voice phishing incident preventions increased by 249% and 173%, respectively, compared to the previous year.

This year, Shinhan Card's voice phishing prevention performance reached 11,109 cases, an increase of 9,925 cases from the previous year, and 76.1 billion KRW in amount, up 48.2 billion KRW from the previous year.

Shinhan Card introduced a malicious app installation prevention solution using AI technology, which analyzes text messages, call patterns, and installed app lists in real time to detect suspicious signs of voice phishing in advance. Additionally, regardless of Shinhan Card transactions, immediate phone calls with customers were made at the moment phishing was detected to proactively prevent potential phishing incidents at other financial institutions.

So far, Shinhan Card has taken the lead in preventing customer damage in real time by jointly developing phishing detection solutions with AI fintech companies. Through the 'Phishing Eyes' app developed in collaboration with the startup Infinigru, it detects abnormal signs using the latest techniques. The police agency’s phishing detection app, 'Citizen Conan,' was also developed based on the functions of the Phishing Eyes app, demonstrating the recognized technological capability.

Recently, at the '2021 Voice Phishing Damage Prevention Best Practice Contest' jointly hosted by the Financial Supervisory Service and various financial associations and central organizations, Shinhan Card won the grand prize in the damage prevention system improvement category for the case of 'Proactive Introduction of Voice Phishing Pre-Prevention System in the Card Sector.'

A Shinhan Card official said, "The improved voice phishing prevention performance this year is the result of accumulated know-how in preventing financial fraud, related big data experience, and close collaboration with startups with excellent technological capabilities."

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