The number of subscribers to the safe blocking service for credit transactions and non-face-to-face account openings has significantly increased following the SK Telecom (SKT) hacking incident. This is due to heightened awareness of voice phishing damages.
The Financial Services Commission noted on the 16th that, as of the 12th, the cumulative number of subscribers to the safe blocking services for credit transactions and non-face-to-face account openings stood at 2.55 million and 2.04 million, respectively. Following the SKT hacking incident on the 22nd of last month, the subscriber counts increased by 2.12 million and 1.88 million, respectively.
The safe blocking for credit transactions is a service that blocks non-face-to-face credit transactions made in an individual’s name, including credit loans, card loans, credit card issuances, installment financing, and savings and deposit collateral loans. The safe blocking for non-face-to-face account openings prevents damages caused by the establishment of false bank accounts by blocking non-face-to-face account openings.
Previously, the subscription rate among seniors aged 60 and over was high at 54.9%, but following the SKT hacking incident, subscriptions among younger adults and middle-aged individuals increased. The subscription rates by age group are 12.8% for those in their 20s, 16.8% for those in their 30s, 19.9% for those in their 40s, 21.1% for those in their 50s, and 29.4% for those aged 60 and over.
Financial authorities have decided to change the requirement for blocking new credit card issuances when applying for the safe blocking service for credit transactions from a mandatory item to an optional item to improve service convenience. Previously, upon subscribing to the safe blocking service for credit transactions, all credit transactions were uniformly blocked, but with this improvement, consumers will be able to directly choose whether to block new credit card issuances.
In addition, it has been improved so that not only the individual but also their family members can apply for and release the safe blocking service. Currently, applications can be made by visiting the branch of the financial institution the individual is dealing with or through the mobile banking application, which has made it challenging for elderly individuals who have difficulty moving to apply.
By the end of this month, it is expected that non-face-to-face applications via mobile app will also be available starting with NongHyup.