The government will establish a 'voice phishing artificial intelligence (AI) platform' to collect data in the financial, telecommunications, and investigation sectors to preemptively detect and prevent voice phishing crimes.
The Financial Services Commission announced on the 28th that it will launch a voice phishing AI platform at a field meeting dedicated to eradicating voice phishing, chaired by Vice Chairman Kwon Dae-young, with participation from the entire financial sector, electronic financial businesses, telecommunications companies, and investigative agencies.
This meeting follows the directive issued by President Lee Jae-myung during a Cabinet meeting to implement special measures to eradicate voice phishing crimes, and the Financial Services Commission developed these plans after about 10 working-level expert meetings.
The voice phishing AI platform was designed to overcome the institutional limitations of the abnormal transaction detection systems (FDS) currently operated by individual financial institutions. While financial institutions use FDS to detect suspect accounts related to voice phishing crimes and take action such as payment suspension, there are criticisms that the lack of immediate information exchange between financial institutions limits the effectiveness of preemptive detection and blocking.
Once this platform is established, information such as the contact information of suspected victims and criminal accounts will be shared with the necessary authorities without processing, allowing the financial institutions receiving this information to immediately suspend payments for criminal accounts.
The platform will concentrate related information on suspected voice phishing accounts from the entire financial sector, telecommunications companies, and investigative agencies, categorized as 'urgent sharing necessary information' and 'AI analysis information.' Suspicious information, such as recent account opening records for suspected voice phishing accounts, will be classified as AI analysis information and utilized for preemptive blocking of criminal accounts across the financial sector after analysis by the Korea Financial Security Agency.
The Financial Services Commission stated, 'Once the platform is established, even secondary financial sectors with relatively low preemptive detection capabilities will be able to suspend payments for criminal accounts based on various new crime method data and AI technology from the Financial Security Agency.' It added, 'This will also help in the development of various new services to block voice phishing at the communication stage and formulate voice phishing investigation strategies.'
Vice Chairman Kwon noted, 'The establishment of the platform is just the first example of several plans the Financial Services Commission is considering.' He added, 'We will also quickly devise measures to legalize financial institutions' responsibilities for prevention and victim relief and effectively block methods of evading regulations, such as virtual assets and smishing.'