AI-based anti-phishing platform prevents over $47.6 mil. in financial damage
A new platform based on artificial intelligence (AI) has prevented some 66.4 billion won ($47.6 million) in financial losses from voice phishing scams over the past nine months, the financial regulator said Thursday. The country launched the platform, dubbed the AI-based Phishing Sharing and Analysis Platform (ASAP), in late October to enhance anti-fraud efforts. According to the Financial…
An AI-powered anti-phishing platform, dubbed the AI-based Phishing Sharing and Analysis Platform (ASAP), has averted more than $47.6 million in financial harm due to voice phishing scams in the past nine months, according to the financial regulator's report on Thursday.
The ASAP platform was introduced in late October to bolster anti-fraud initiatives. Financial Services Commission (FSC) revealed that over 463,000 instances of voice phishing-related data were exchanged among financial entities between October 29 and July 31.
Through ASAP, 130 financial institutions shared data related to phishing scams, including victim accounts and suspicious transactions. Consequently, transactions from approximately 7,000 accounts were impeded.
The FSC emphasized that the government is escalating endeavors to curb the surge in phishing crimes. ASAP symbolizes the nation's heightened dedication to safeguarding financial consumers and regaining trust in digital financial systems. Phishing is a fraudulent act wherein victims are duped into transferring money to criminals or disclosing their personal data, thereby enabling fraudsters to carry out illicit activities.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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