A new artificial intelligence-based platform has prevented 19 billion won ($13 million) in financial losses from voice phishing scams over the past three months, the financial regulator said. Dubbed the AI-based Phishing Sharing and Analysis Platform (ASAP), it was launched in late October to bolster anti-fraud measures.
The Financial Services Commission (FSC) announced on January 28 that the AI-based Phishing Sharing and Analysis Platform (ASAP) facilitated the sharing of 148,000 cases of voice phishing-related information among financial institutions from October 29 to January 21. This led to the halting of transfers from 2,705 accounts, with 130 financial firms able to exchange details such as victim accounts and suspicious transactions.
The country has been ramping up efforts to combat the rise in phishing crimes. The ASAP underscores the nation's commitment to safeguarding financial consumers and rebuilding trust in digital financial systems, according to the FSC.
Phishing involves tricking victims into transferring money to scammers or divulging personal information, enabling fraudsters to access their bank accounts. The platform aims to prevent such incidents through enhanced information sharing.
