Toss Bank said on Sunday it received a letter of appreciation in the name of the Seoul Metropolitan Police Agency chief from Seoul Gangnam Police Station for its contributions to preventing voice phishing and other non-face-to-face financial fraud.

The letter was awarded in recognition of Toss Bank’s establishment of a cooperation framework with Seoul Gangnam Police Station to prevent harm to financial consumers and its guidance, via the website customers actually use, on major voice phishing methods and response procedures in the event of losses.

Toss Bank has participated in the National Police Agency’s voice phishing prevention campaign and has provided financial fraud prevention materials on its website, which has about 700,000 monthly visitors.

It also distributes a “Financial Fraud Prevention Report” from time to time to publicise new financial fraud tactics. The report includes new types of scams, actual loss cases and how to respond in suspicious situations.

As balancing convenience and security becomes more important in non-face-to-face financial services, Toss Bank plans to continuously strengthen guidance and prevention tools so customers can recognise suspicious transactions and financial fraud risks while using financial services.

Toss Bank CEO Eun-mi Lee (이은미) said, “To reduce financial fraud losses, it is important to have an environment where customers can easily check accurate information at the moment they actually use financial services.” She added, “We will continue efforts to protect financial consumers and prevent losses by cooperating with related institutions.”