South Korea has unveiled a new AI-powered system to strengthen its defences against voice phishing scams.
The platform, named the AI-based Anti-Phishing Sharing & Analysis Platform (ASAP), has been jointly developed by financial institutions and government agencies to enable real-time sharing of suspicious activity data across multiple sectors, claims Korea Times.
Operated by the Financial Security Institute, ASAP facilitates the exchange of phishing-related information among 130 financial firms, including details of victim accounts, suspicious transactions, forged identification documents, and malicious apps. The system applies AI-driven pattern analysis to identify, detect and block fraudulent activities before they cause harm.
The platform’s launch marks a significant step forward in the country’s anti-fraud infrastructure, addressing previous gaps in information sharing between financial institutions that often delayed the recovery of stolen funds. Through ASAP, authorities can now quickly share verified information on accounts used in criminal activities, helping to halt the transfer of illicit funds domestically and abroad.
At the launch event, Financial Services Commission chairman Lee Eog-weon joined representatives from the Office for Government Policy Coordination, National Police Agency, and the Financial Supervisory Service, alongside experts in voice phishing prevention. Participants discussed the growing threat of voice phishing in Korea and ongoing government measures to combat these crimes.
The initiative arrives as voice phishing operations become increasingly organised and transnational, with scammers using advanced technologies such as deepfakes and malicious apps to deceive victims. ASAP’s AI detection model is designed to evolve alongside these emerging threats, supporting faster intervention and a more coordinated national response.
Beyond financial institutions, the platform will extend its cooperation to telecommunications providers and investigative agencies, helping to establish a one-stop relief system for victims of phishing scams.
“As seen in the recent case of the Cambodian criminal network that shocked our society, voice phishing crimes have evolved into large-scale, organised international fraud schemes,” Lee said. “It is time for the government, related agencies and the financial industry to work together to devise fundamental solutions until these crimes are completely eradicated.”
He added, “We will fundamentally strengthen the capabilities and accountability of financial institutions in preventing voice phishing, while providing institutional support for the entire financial sector to be equipped with advanced technologies such as AI.”
The introduction of ASAP underscores South Korea’s growing commitment to harnessing AI and data-driven collaboration to safeguard financial consumers and restore trust in digital financial systems.
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