Biz.Chosun Woori Bank Enhances AI Fraud Detection with Ex-Police Expert
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- •Woori Bank is launching a new AI-based fraud detection system.
- •Former police expert Jeon Jae-hong leads the initiative.
- •The system aims to preemptively block financial fraud before it impacts customers.
Woori Bank announced the establishment of a new financial fraud detection system utilizing Generative AI, following the recruitment of Jeon Jae-hong, a former police expert known for his role in combating voice phishing. The bank aims to enhance its capabilities in preventing financial fraud by integrating telecommunications data with AI-driven analysis. During a press conference on October 12, 2026, Woori Bank emphasized the urgency of addressing evolving financial crime methods, as criminals increasingly leverage technology. Jeon highlighted the specialization of criminal operations, making it harder to track and apprehend offenders. The bank's new system will operate with a dedicated unit of former police specialists and aims to preemptively block fraudulent activities before they result in customer losses. The initial phase includes reorganizing the response system based on AI capabilities and expanding professional training and information sharing with authorities. Woori Bank has already reported success in preventing fraud, forwarding numerous suspicious transactions to its anti-money laundering department.
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