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Fintech
Financial Security Institute, three internet banks to develop joint AI model to detect voice phishing
South Korea\'s Financial Security Institute and three internet-only banks - KakaoBank, Toss Bank and K Bank - have developed a federated-learning-based joint AI model to detect voice phishing and will apply it in operations. The institute said the model shares and merges only AI weights, not raw data, combining the banks\' experience with its algorithms. It said detection precision improved by up to 205 percent versus individual models.
Finance
Financial sector overhauls security and consumer protection for AX era
As the financial sector accelerates an AI (AX) overhaul, digital risks such as hacking and voice phishing are emerging as key challenges. Financial authorities are moving to widen AI use by easing network separation rules, while calling for stronger internal controls and consumer protection to address security threats and increasingly sophisticated fraud. The Financial Services Commission held a meeting with major financial groups and related agencies to discuss responses, including upgrading a voice phishing AI platform.
Finance
Shinhan Financial launches joint response service to voice phishing, blocks 800 million won losses in 2 weeks
Shinhan Financial Group said on Tuesday it prevented about 800 million won in losses in two weeks through a one-stop joint response service to voice phishing that links affiliates\' fraud detection systems. The service shares abnormal transaction information in real time across key units including banking, cards, securities and insurance to detect and respond to suspicious transactions early. It analysed 1,111 cases and detected 41 abnormal transactions.