Woori Bank announced on the 24th that it has opened a Fraud Detection System (FDS) that detects anomalies using patterns of financial incidents.
According to Woori Bank, this system analyzed large amounts of transaction data concerning existing incident cases and types vulnerable to incidents, such as ▲ false input of annual income when handling loans ▲ submission of false supporting documents for fund purposes ▲ and embezzlement after secretly terminating time deposits by customers. Based on this, it can generate behavior pattern scenarios capable of detecting specific unusual transaction signs after business hours at branches, effectively preventing the same types of incidents from occurring again.
According to these behavior pattern scenarios, when unusual transactions occur, the detection of the transaction is made through monitoring by the inspection system. Notifications and materials are sent to the responsible inspector so that inspections can commence immediately. It is expected that this will proactively prevent incidents that can occur in various transactions at branches.
Woori Bank has developed ▲ financial incident pattern analysis and scenario generation ▲ internal control databases (DB) construction ▲ and monitoring visualization dashboards. With the opening of this system, a series of processes to extract the latest data based on high-risk scenarios for inspection has been established.
The establishment of FDS is a preliminary step for building Woori Bank's integrated internal control system. The behavior pattern scenarios utilized this time are expected to be reflected in the upcoming construction of an integrated system based on artificial intelligence (AI).