KB Kookmin Bank, police launch voice phishing prevention campaign for seniors

KB Kookmin Bank has teamed up with the Korean National Police Agency to educate older adults on how to avoid voice phishing and other financial fraud, covering common scam tactics, prevention tips and a theatrical performance designed to bring the lessons to life.

The bank announced Friday that it held the joint "Financial Fraud Prevention Campaign" with the Korean National Police Agency on Thursday at the Magok Senior Welfare Center in Gangseo-gu, Seoul.

The event was timed to coincide with the Financial Supervisory Service's "Joint Financial Sector Intensive Financial Education for the Elderly" period. Participants received guidance on recent fraud cases and prevention methods, and watched a short play depicting a voice phishing scenario.

The theatrical program is a corporate social responsibility initiative organized by the Senior Financial Education Council, a nonprofit under the Financial Services Commission, and sponsored by KB Kookmin Bank. Running at senior welfare facilities nationwide since 2022, it uses dance and song to help older adults easily grasp fraud tactics and how to respond.

Oh Chang-bae, head of the Korean National Police Agency's Integrated Response Unit for Telecommunications and Financial Fraud, said voice phishing cases are declining but warned that scam methods are growing increasingly sophisticated. "If you encounter a suspicious situation involving a demand for money, please contact the Integrated Response Unit immediately for consultation," he said.

Park Seon-hyeon, executive vice president of KB Kookmin Bank's Consumer Protection Group, stressed the importance of understanding the severity of financial fraud and knowing how to respond before becoming a victim. "We will continue to work closely with the Korean National Police Agency to prevent financial fraud and protect financial consumers," she said.

KB Kookmin Bank said it has been upgrading its AI-powered Fraud Detection System and strengthening coordination with police. Through early detection of suspicious transactions and measures such as account payment suspensions, the bank prevented approximately 150 billion won ($111 million) in financial fraud losses through the end of September.

Meanwhile, financial authorities have launched a one-month special response period to guard against secondary damage — including voice phishing — from the misuse of personal data following a series of recent information leaks at financial firms. Banks and other financial institutions have been directed to step up monitoring of abnormal transactions involving affected customers and to apply additional verification for high-risk transactions such as non-face-to-face loans and large transfers.