Kakao Pay "Fraud History Detection Applied to All Transfers... 24-Hour Chatbot Support"

Cooperating with TheCheat to Detect Suspicious Accounts
24-Hour Mediation Requests for Erroneous Remittance Returns Available

[Asia Economy Reporter Minwoo Lee] Kakao Pay is strengthening measures to prevent financial fraud by applying a fraud history detection feature to all remittance services.

On the 6th, Kakao Pay announced that it has applied a ‘Fraud History Detector’ to all remittance services and added a service that allows 24/7 consultation for mistaken remittance cases.

First, in mid-last month, Kakao Pay applied the ‘Fraud History Detector’ to its remittance services, enabling users to identify suspicious fraud history of the recipient in advance to prevent damage. The ‘Fraud History Detector’ was developed in collaboration with the financial fraud prevention specialist company ‘The Cheat’ and checks the reported history to The Cheat during the remittance process. It is applied to all Kakao Pay remittance services including KakaoTalk friend remittance, account number remittance, code remittance, scheduled remittance, and open chat remittance.

The presence of suspicious fraud history can be checked from the amount input stage. If the recipient has no reported history to The Cheat, a blue shield-shaped ‘Safe’ icon appears next to their name; if there is a reported history, a red shield-shaped ‘Caution’ icon is displayed. If the user proceeds without acknowledging the ‘Caution’ shield icon, a warning to be careful with the remittance is shown along with options to choose between ‘I want to stop’ and ‘I will proceed with remittance.’ In cases where the open chat remittance recipient has a reported history, the remittance itself is blocked and the amount is returned to the sender.

At the end of last month, Kakao Pay introduced a chatbot service that allows users to apply for a refund 24 hours a day in case of mistaken remittance. Since the chatbot can retrieve Kakao Pay transaction history, users do not need to enter the recipient’s account information manually. If the user has a registered personal account with Kakao Pay, it can be designated as the refund account. The mistaken remittance receipt, which was previously only available through the customer center, can now be issued directly to the user’s email via the chatbot. In the future, a feature to cancel applications submitted through the mistaken remittance chatbot will also be added.

Besides the chatbot, users can still request mistaken remittance mediation through Kakao Pay’s Financial Safety Center or 1:1 inquiries at the customer center as before.

A Kakao Pay official stated, "We have strengthened various measures so that Kakao Pay users can use remittance services without worry," adding, "We will continue to prioritize users’ safety and security to create financial services that anyone can use with peace of mind."

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