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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.

Telecommunications & Media

SKT, Korean National Police Agency identify 475 phishing crime servers with AI

SK Telecom and South Korea\'s National Police Agency identified 475 phishing crime servers over three months using AI-based malicious application analysis, preventing financial losses for 643 people. The two sides signed a supplementary agreement on June 16 to formalise cooperation on analysing phishing malware apps and investigations. SKT said its system cut analysis time by about 81 percent. It said the effort prevented an estimated 163.8 billion won in annual losses.

Finance

KB Financial builds linked credit, psychological and legal support system for voice phishing victims

KB Financial Group will support the psychological and financial recovery of victims of voice phishing and other telecommunications financial fraud. It signed an MOU with the Korean National Police Agency and the Credit Recovery Committee to strengthen prevention and victim support. Under the agreement, police will produce and distribute prevention content and run support schemes, while the Credit Recovery Committee will provide credit counselling and link victims to psychological and legal services. The service starts June 1.