AI-based anti-phishing platform prevents over 66 bln won in financial damage

SEOUL, Aug. 20 (Yonhap) -- An AI-powered platform, named the AI-based Phishing Sharing and Analysis Platform (ASAP), has successfully prevented approximately 66.4 billion won in financial damages resulting from voice phishing scams over the past nine months, according to the Financial Services Commission (FSC).

The platform, launched in late October, has facilitated the sharing of 463,000 cases of voice phishing-related information among 130 financial institutions from October 29 to July 31. This exchange has led to the halting of transfers from around 7,000 accounts.

ASAP enables financial firms to share crucial data, including victim accounts and suspicious transactions. The platform's launch underscores South Korea's growing commitment to safeguarding financial consumers and restoring trust in digital financial systems. Phishing scams, a prevalent form of cybercrime, trick victims into transferring funds to fraudsters or disclosing personal information, thereby gaining unauthorized access to bank accounts.