Oops! If You Have Been a Victim of Voice Phishing, Apply for 'Banking Sector Voluntary Compensation'

Financial Supervisory Service: "Applications Accepted from This Year's Cases"... Partial Responsibility Sharing in the Financial Sector

The Financial Supervisory Service announced on the 18th that victims of non-face-to-face financial fraud such as voice phishing can receive compensation through the banking sector's voluntary compensation system.

Since January 1st of this year, the banking sector has been implementing a voluntary compensation system (Standards for Sharing Responsibility in Non-Face-to-Face Financial Accidents) for damages caused by non-face-to-face financial fraud such as voice phishing. This system is a voluntary compensation scheme in which financial companies share a certain portion of responsibility when non-face-to-face voice phishing incidents occur, aimed at encouraging financial companies to make efforts to prevent voice phishing accidents.

If personal information is leaked due to voice phishing or similar incidents, resulting in monetary damage such as funds being transferred from the victim's account by a third party through non-face-to-face financial fraud, applications can be made only for incidents occurring after January 1st of this year. The compensation amount excludes the damage refund amount under the "Act on the Prevention of Telecommunications Fraud and Protection of Victims" from the total damage amount. The amount is determined by comprehensively considering the bank's efforts to prevent the accident and the degree of fault of the consumer (customer).

Victims can call the consultation desk of each bank where the account in their name was opened to receive guidance on whether the system applies and the required documents, and then apply for compensation through the bank branch. When applying, the compensation application form, confirmation of incident facts from investigative agencies, and statements must be submitted to the bank.

Compensation according to the responsibility-sharing standards is finally decided after the determination of the damage refund amount under the Act on the Prevention of Telecommunications Fraud and Protection of Victims and the bank's investigation of the incident. Since it may take a certain period (at least two months or more) until actual payment, it is advisable to apply as soon as possible after the incident occurs.

A Financial Supervisory Service official stated, "If you suffer damage from non-face-to-face financial fraud such as voice phishing, you should immediately call the Integrated Reporting Center or the bank call center to request necessary measures such as payment suspension," and added, "It is essential to receive detailed consultation about the Standards for Sharing Responsibility in Non-Face-to-Face Financial Accidents and, if applicable, apply for voluntary compensation at your bank."

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