Samjong KPMG Holds Seminar on Responding to Cyber Fraud Risks

Samjong KPMG announced on the 6th that it held a 'Cyber Fraud Risk Response Strategy Seminar' for domestic companies at its headquarters in Gangnam Finance Center, Yeoksam-dong, Gangnam-gu, Seoul.

Domestic cyber fraud crimes occur about 1,200 times per month and are showing a trend of increasing more than 2.5 times compared to the previous year. The reasons for the rise in cyber fraud incidents include the ability to commit crimes without regional restrictions, the guarantee of anonymity or use of others' identities, and difficulties in tracing funds such as virtual assets.

At the seminar held the previous day, a Samjong KPMG cybersecurity expert presented the recent types of cyber fraud incidents and corresponding response strategies for domestic companies. Following this, Group-IB, a global leader in cyber fraud prevention solutions, explained the limitations of phishing prevention measures in financial services and the functions and implementation cases of cyber fraud prevention systems for risk management based on their experience in digital risk response.

Samjong KPMG identified the following cybersecurity considerations for this year: ▲ digital trust ▲ security that does not interfere with business ▲ a future environment centered on borderless data ▲ security in new outsourcing environments ▲ trust in automation ▲ agility of security organizations ▲ security and privacy protection in a smart world ▲ and securing resilience.

Recently, cyber fraud has been expanding by combining large amounts of leaked personal information and data, and fraud techniques have become more sophisticated by using artificial intelligence (AI) technology or collecting internal corporate information. Therefore, companies with a high proportion of online-based services, such as financial companies, urgently need to introduce automated cyber fraud risk prevention systems.

Kim Min-su, Executive Director and Cybersecurity Service Leader at Samjong KPMG, said, "Beyond the limitations of the existing rule-based Fraud Detection System (FDS) that provides retrospective monitoring, a digital fraud monitoring system capable of real-time fraud detection and prevention is necessary," adding, "Through collaboration between Samjong KPMG, which has the largest cybersecurity consulting organization in Korea, and Group-IB, which possesses world-class digital fraud risk prevention technology, we will support the establishment of a safe digital business environment for domestic companies."

Meanwhile, Samjong KPMG provides risk response services in technology, compliance, and operations in the digital environment by launching a cyber risk management consulting organization in addition to IT security and OT security consulting. The Samjong KPMG cybersecurity service organization collaborates with more than 6,500 KPMG global cybersecurity experts to offer successful solutions to companies.

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