Telecom companies urged to work closer with banks against phishing scams

Telecommunications companies are urged to take a more active role in countering voice phishing scams, as commercial banks have a limited ability to prevent the financial crimes, with a broader level of cooperation essential across industry borders, critics said Friday. They noted that multiple lenders have been offering insurance, free to their customers, to help victims of voice phishing scams make up losses. These companies include Shinhan Bank, which compensates up to 20 million won ($14,540), and Woori Bank, which compensates up to 10 million won, to each victim based on a police-issued report that shows the amount lost to a scam. Additionally, Shinhan Bank has adopted artificial intelligence (AI) to more thoroughly monitor any suspected financial transactions via its ATMs nationwide, while Woori Bank has been awarding outstanding employees who prevent voice phishing scams. “Despite all these efforts in the financial sector, voice phishing scams continue to persist as banking customers are still exposed to crimes that begin with a phone call,” a researcher at an advocate group foWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times