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Finance

Outsider loan fraud hidden as \'normal loans\' piles up, raising questions over banks\' defences

South Korean banks are strengthening internal controls to prevent financial incidents, but loan fraud involving outsiders continues to surface. Detecting fraud is difficult when loans remain current and are managed as normal credit, or when parties disguise transactions as legitimate. Hana Bank disclosed a 2.42 billion won incident tied to suspected fraud, while recent disclosures by Korea Development Bank and Industrial Bank of Korea were reported to involve the same counterparty.

AI & Enterprise

Financial sector moves beyond tests to roll out AX in production; executive interest far higher than DX

Financial companies are accelerating moves to deploy AI in production beyond proof-of-concept tests, with executives playing a major role in adoption, speakers said at an AWS financial services forum in Seoul. They said questions have shifted to how to operate agents safely at scale and prevent duplication across departments. Security, safety and data reliability were cited as key requirements. Hyundai Capital said top management backing and input from employees helped drive its companywide AI transition.

AI & Enterprise

Anthropic to roll out latest AI models on AWS Seoul region, step up push into South Korean finance

Anthropic plans to soon introduce its latest large language models, including Sonnet 5 and Opus 5, on Amazon Web Services\' Seoul region and accelerate its push into South Korea\'s enterprise market. The company is also working with AWS to expand adoption in the domestic financial sector. Anthropic Korea head Choi Ki-young said local availability would better meet data sovereignty requirements, broaden use cases for regulated industries and ease concerns about data leaving the country during inference.