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Financial watchdog launches support for voice phishing victims

Korea's financial regulator, the Financial Supervisory Service (FSS), has launched a pilot program to support voice phishing victims' economic and psychological recovery. On Nov. 9, the FSS signed an MOU with the Korea Federation of Banks, the Credit Finance Association, the Korea Federation of Savings Banks, and Good Neighbors to run the project 'Back to Daily Life,' which provides living expenses and psychological counseling. Yonhap reports that in the first half of this year, there were 7,033 voice phishing cases with total damages of 327.6 billion won, with the number of cases rising about 6% year-on-year. The FSS is also moving to phase out network separation rules for financial firms to fight AI-based scams, according to the Korea Times.

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