Police University Crime Policy Research Institute and Korea Financial Telecommunications and Clearings Institute to Cooperate on Emerging Financial Fraud Crimes

The Police University Crime Policy Research Institute announced on June 19 that it has signed a memorandum of understanding with the Korea Financial Telecommunications and Clearings Institute to cooperate in responding to emerging financial fraud crimes.

Police University campus. Photo by Yonhap News

The two parties agreed to jointly pursue the following initiatives: joint research on the latest artificial intelligence technologies to establish a response system for financial fraud; building a foundation for ongoing cooperation by sharing risk information and research results related to financial fraud; and identifying collaborative projects such as institutional improvements and service development to prevent financial fraud.

This agreement is considered the first step in developing AI- and data-based policies to respond to emerging financial fraud crimes, such as increasingly sophisticated voice phishing, and to enhance the protection and safety of citizens' assets.

Oh Sangtaek, Director of the Crime Policy Research Institute, said, "We hope that this collaboration with the Korea Financial Telecommunications and Clearings Institute will establish a more systematic foundation for responding to financial fraud," adding, "We will continue to develop integrated policies that combine scientific policing and financial security in the future."

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