A new service aimed at preventing illegal loan fraud, such as voice phishing and identity theft, has been launched across all financial institutions.
The ‘Loan Transaction Safe Block’ service, which began on the 23rd, aims to prevent loan fraud by blocking new loan transactions that could occur without the customer’s prior consent.
At the ‘Loan Transaction Safe Block Implementation Meeting’ held at the NH NongHyup Bank headquarters in Jung-gu, Seoul, on the same day, Kim Byung-hwan, Chairman of the Financial Services Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service, emphasized that this service would play a crucial role in protecting the financial safety of the public.
This service is provided by a total of 4,012 financial companies, including banks, financial investment companies, insurance companies, and savings banks. It operates by blocking new loan transactions, such as credit loans, card loans, and credit card issuances, in real-time, thereby preventing voice phishing and other types of fraud in advance.
Subscribers can easily use the service by visiting their financial institutions and completing a personal verification process. Most financial companies are implementing this service starting today. However, internet-only banks, some insurance companies, and specialized credit finance companies are scheduled to launch the service from next month.
There are also plans to improve the system to allow non-face-to-face service applications in the future.
Lee Bok-hyun, Governor of the Financial Supervisory Service, requested active promotion and guidance in the financial field, stating, "For the service to be effective, it needs to be widely used by the public."
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All financial institutions launch the 'Loan Transaction Safe Block' service to prevent illegal loans.
A new service aimed at preventing illegal loan fraud, such as voice phishing and identity theft, has been launched across all financial institutions.The ‘Loan
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