FSS to Award Financial Institutions and Employees for Excellence in Voice Phishing Prevention... Winners to Be Announced in December

For Banks and Mutual Finance Sector:
One Financial Institution and About Five Employees to Be Recognized

Exemplary Cases to Be Shared Across the Financial Sector
Awards for Prevention Efforts to Become a Regular Practice

The Financial Supervisory Service (FSS) announced on September 7 that it will grant awards in December to financial institutions with outstanding voice phishing response systems, as well as to employees who have contributed to crime prevention or the apprehension of perpetrators.

This year, taking into account the scale of voice phishing damage by industry, the awards will be split into institutional and individual categories, targeting domestic banks and the mutual finance sector. Eligible recipients include 17 domestic banks—excluding Industrial Bank of Korea, Export-Import Bank of Korea, and Citibank Korea—as well as employees of the National Agricultural Cooperative Federation, National Federation of Fisheries Cooperatives, National Credit Union Federation of Korea, National Forestry Cooperative Federation, and National Saemaul Credit Cooperative Federation.

The FSS will select one financial institution that has demonstrated excellence in fraud prevention, as well as approximately five employees from branches and other offices who have contributed to crime prevention or the apprehension of perpetrators. In the institutional category, not only are visible achievements in damage prevention evaluated, but also the overall excellence of the response system. In the individual category, factors such as the scale of damage prevention, as well as the proactiveness and contributions of the employee, are considered.

The FSS plans to select about three times the number of final award recipients through an internal evaluation process, after which a selection committee with external members will determine the final awardees in early December. To this end, the agency will hold a briefing session for the financial sector in September and accept award applications in early November.

In addition, exemplary cases will be shared across the entire financial sector to encourage the improvement of voice phishing response capabilities.

An FSS official said, "In order to raise the level of response systems within the financial sector, we will make awards for excellence in voice phishing prevention a regular practice," adding, "We are also reviewing ways to offer incentives for recipients of these awards."

This content was produced with the assistance of AI translation services.