KakaoBank has implemented a financial fraud prevention system utilizing artificial intelligence (AI).
On November 5, KakaoBank announced the launch of its 'AI-Safety Call Bot' service. The AI call bot automatically contacts customers when the bank's fraud detection system (FDS) identifies suspicious transactions, guiding them to halt transfers and verify transactions. It also sends alerts containing information on common types of financial fraud and how to respond.
KakaoBank explained that the system incorporates the concept of 'intentional friction' to allow customers time to reassess the safety of their transactions during suspicious situations.
Additionally, the AI call bot provides tailored preventive information based on the customer's age and recent fraud trends, addressing major fraud tactics such as impersonating law enforcement and loan scams.
The protective features for elderly customers have also been enhanced. For clients aged 60 and above, the system offers voice guidance on transaction verification, types of financial fraud, and prevention tips, considering the possibility of call disconnections during the alert process.
According to KakaoBank, since the AI call bot's introduction at the end of September, approximately 100,000 alerts have been issued for suspicious transactions over the course of a month. The cancellation rate for transactions among customers who received these alert calls increased by 54% compared to the same period last year.
A KakaoBank representative stated, "To prevent financial fraud, it is crucial not only to detect suspicious transactions but also to help customers recognize fraud risks and avoid potential losses. We will continue to enhance our fraud prevention system using AI technology."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.