Led by FSS, 10 Associations Launch 'Suspicious, Hang Up, Verify!' Initiative Against AI-Driven Scams
The Financial Supervisory Service (FSS) and financial sectors including banks, securities firms, and credit card companies are jointly conducting their first-ever voice phishing prevention campaign. Although voice phishing damages significantly decreased in the first half of this year, the judgment was made that criminal methods using artificial intelligence (AI) and malicious applications are becoming increasingly sophisticated.
The FSS announced on the 6th that it will operate the "2026 Pan-Financial Sector Voice Phishing Prevention Week" from the 7th to the 13th. Ten financial associations, including the Korea Banking Association, Korea Financial Investment Association, Korea Federation of Savings Banks, Credit Finance Association, Nonghyup, Shinhyup, Suhyup, and the Korean Federation of Community Credit Cooperatives, along with related financial companies, will participate. The slogan is "Suspicious, Hang Up, Verify!"
The number of voice phishing cases in the first half of this year was 7,033, a 61% decrease compared to the same period last year. Damages amounted to 327.6 billion Korean won, a 52.3% reduction. However, crimes continue, including impersonation of institutions like prosecutors and the FSS, fake low-interest loans, fake family kidnappings, malicious app installations, impersonation of card or court delivery services, and luring individuals into becoming cash couriers under the guise of high-paying part-time jobs.
The campaign website provides the latest damage cases and response methods by situation. It also introduces three "safety block services": "Loan Transaction Safety Block" to prevent unknown loans or card loans, blocking non-face-to-face account openings, and restricting open banking inquiries and withdrawals.
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