Shinhan Bank Offers "Financial Safety Free Insurance" to Compensate Basic Pension Recipients for Phishing Damages
Up to 10 Million Won Coverage for Phishing and Hacking Damages
Apply via Shinhan SOL Bank Until December 31
Shinhan Bank is offering free insurance coverage to basic pension recipients to compensate for phishing and other types of financial fraud damages.
On June 11, Shinhan Bank announced that, as part of its inclusive finance initiatives, it will provide the "Shinhan Financial Safety Free Insurance" benefit to customers receiving basic pensions.
The main coverage includes up to 3 million won for “mistaken remittance recovery cost coverage,” supporting expenses incurred during the process of recovering mistakenly sent funds, and up to 10 million won for “phishing and hacking damage coverage,” which compensates for losses from telecommunication financial fraud such as phishing, pharming, and smishing.
Insurance applications can be submitted through Shinhan SOL Bank starting from today until December 31. The coverage period is one year from the date of enrollment.
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A representative from Shinhan Bank stated, "We have prepared this service so that basic pension recipients can receive support even in the event of unexpected financial incidents," adding, "We will continue to closely monitor our customers' financial conditions and provide practical support for financially vulnerable groups."
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