Woori Bank (000030) is launching a next-generation fraud detection system that combines generative artificial intelligence with telecommunications data to prevent financial fraud.
Jeon Jae-hong, head of Woori Bank's financial fraud prevention division, announced the plan at a press briefing held at the bank's headquarters in Seoul on the 12th. "We will become a bank that leads the way in preventing financial fraud," Jeon said. Jeon joined Woori Bank in June after 24 years as a financial crime investigator with the police.
Woori Bank will begin operating the next-generation fraud detection system next month. The bank aims to block customer losses before they occur by using AI to analyze a wide range of fraud patterns and by drawing on a more diverse set of data. "We will not stop at compensating victims," Woori Bank President Jeong Jin-wan said. "We will strengthen our preventive framework further by detecting warning signs one step ahead."