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FSC launches AI-powered anti-phishing platform

Published: 29 Oct. 2025, 19:45

Financial Services Commission Chairman Lee Eok-won speaks during the launch ceremony for the anti-voice phishing AI platform at the Financial Security Institute in Yongin, Gyeonggi on Oct. 29. [NEWS1]

More than 130 financial institutions in Korea will begin sharing data on accounts tied to voice phishing in real time through a new AI-powered platform, aiming to block fraudulent transfers before victims’ money disappears.

The Financial Services Commission (FSC) announced the new system at the launch of the AI platform “Anti-Phishing Sharing and Analysis Platform,” or “ASAP,” on Wednesday. The platform will serve as a hub for financial firms to exchange and analyze data related to voice phishing schemes.

ASAP enables real-time sharing of 90 categories of information, including 14 categories related to victim accounts, 18 to criminal accounts and eight to accounts used by overseas fraud organizations.

Until now, banks and law enforcement agencies had no unified system to share such information, limiting their ability to stop funds from being transferred across multiple institutions.

With ASAP, if authorities detect an account used by an overseas criminal group and register it on the platform, all participating financial institutions will be able to immediately block transfers or withdrawals involving that account. By cutting off escape routes for illicit funds, the system increases the likelihood of recovering the stolen money.

The FSC said it plans to use ASAP to analyze voice phishing data and improve AI algorithms that detect fraudulent activity. The AI will be trained to recognize new types of voice phishing tactics and share the results across the financial sector to strengthen prevention capabilities.

The government is also pursuing additional measures to improve data security.

The FSC is completing a full inspection of financial firms' information protection systems and plans to tighten related regulations. A proposed amendment to the Electronic Financial Transactions Act would introduce punitive fines for data breaches and require financial institutions to publicly disclose their cybersecurity practices.

“The voice phishing cases linked to criminal groups in Cambodia show that these schemes have evolved into large-scale, organized international fraud operations,” FSC Chairman Lee Eok-won said. “It is time for the government, related agencies and the industry to work together to develop a fundamental solution.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM NAM-JUN [[email protected]]