Woori Bank will speed up the establishment of a next

Woori Bank will speed up the establishment of a -generation abnormal financial transaction detection system (FDS) using generative artificial intelligence (AI) after recruiting a former police expert who arrested the head of the first-generation voice phishing "Kim Mi-young" organization. In order to prevent the damage of rapidly changing financial fraud, a dedicated team composed of professionals from the police will also be .

Woori Bank held a "financial fraud prevention press conference" at its headquarters in Jung-gu, Seoul on the 12th and recently shared rapidly evolving financial fraud methods and major damage prevention results.

The announcement was made by Jeon Jae-hong, general secretary of Woori Bank's financial fraud prevention department. Jeon is a financial fraud investigation expert who retired as a senior superintendent after 24 years of working in the police, and led the arrest of the management, including the chief of the first-generation voice phishing team Kim Mi-young, and the investigation of overseas voice phishing organizations.

Woori Bank recruited Jeon as a police-turned-professional for the first time in the banking sector to increase its expertise in responding to financial fraud.

The former chief stressed the division of the financial fraud criminal organization and pointed out the reality that it has become more difficult to find. "If it used to be an organization, all sectors are divided now," he said. "The barriers to entry have been lowered, and it will become more polar in the future as anyone can execute financial crimes if they know the routine."

Hackers' movements have also become quiet as a series of recent hacking incidents in the financial sector have increased alarm, but he stressed that financial fraud could occur again at any time if the crackdown subsides.

Chief Jeon pointed out that with the development of technology, new crime opportunities have increased, and it is difficult to crack down because the tracking and arrest system is difficult to keep up with compared to internationalized criminal organizations. According to the explanation, as smartphones, social network services (SNS), and Generative AI become more common, criminal methods change faster, while tracking criminal organizations based abroad requires judicial cooperation and complex procedures between countries, which takes time to respond.

The third stage of the financial fraud response system proposed by Woori Bank is ▲ building a foundation ▲ expanding capabilities ▲ leading prevention.

First of all, in the first stage of 'Building a Foundation', a response system is reorganized based on AI-based detection capabilities, professional response organizations, and external institutional cooperation and education systems. In the second stage of 'Capacity Expansion', detection and analysis tasks are standardized, professional manpower and education are expanded, and information sharing and reporting links are strengthened to increase the organization's ability to respond.

In the last three stages of the "prevention lead", the government plans to internalize financial fraud prevention capabilities across banks and spread to a joint response model in the financial sector and an ecosystem for preventing local communities.

To this end, Woori Bank is pushing for the establishment of a team dedicated to preventing financial fraud from the police. Referring to the fact that the insurance industry has recruited former police officers to the Special Investigation Team for Insurance Fraud (SIU) since the 1990s, the banking sector should also have professional manpower. However, Jeon explained that it has not yet been confirmed as a planning stage.

In addition, the proactive response system centered on the abnormal financial transaction detection system (FDS) will be strengthened. If the existing FDS has captured abnormal signs based on preset detection rules and financial transaction information, it plans to analyze new types of financial fraud and abnormal signs through AI and upgrade the detection system in the future.

To this end, Woori Bank will establish a -generation prevention system using Generative AI and communication information. It will promote the establishment of a -generation FDS that broadly links data such as electronic financial FDS, login information, product usage information, and ASAP (Voice Phishing Information Sharing and Analysis AI Platform) risk account information. It plans to operate a new AI monitoring system in November and push for stabilization work by the end of the year.

Meanwhile, according to statistics from the National Police Agency, the amount of financial fraud in Korea has tripled in three years from 791.1 billion won in 2022 to 2.375 trillion won in 2025.