SK Telecom Launches AI Solution 'FAME' to Prevent Financial Crimes, Supplies to Shinhan Card

SK Telecom announced on the 29th that it has launched its artificial intelligence (AI) security solution, Fraud Detection AI for MNO & Enterprise (FAME), to prevent cyber financial crimes and signed its first supply contract with Shinhan Card.
FAME is a big data-based AI security platform developed in-house by SK Telecom. By analyzing telecommunications data such as location, calls, and messages, the AI detects and prevents financial fraud patterns in real time, including voice phishing (vishing), smishing, and various unauthorized transactions. SK Telecom will especially support financial institutions, public agencies, and corporate clients in integrating their own Fraud Detection System (FDS) with FAME, enabling them to proactively block customer damages and further enhance security.
The first client for FAME is Shinhan Card. The two companies recently signed a supply agreement to combine telecommunications and financial data, aiming to dramatically improve customer protection. This partnership is expected to be highly effective in preventing the growing threat of vishing crimes. For example, if a customer attempts a financial transaction during or immediately after a suspicious call, FAME can detect anomalies and either block the transaction or send a warning message to prevent financial loss.
An SK Telecom official explained, "By adding FAME to Shinhan Card's existing malicious app detection capabilities, we can now reduce so-called 'gaslighting' phishing crimes that pressure victims through phone calls."
Previously, in November last year, SK Telecom and Shinhan Card signed a memorandum of understanding (MoU) to advance their financial crime prevention systems and proactively tested related technologies. A notable achievement was preventing unauthorized use in cases of card theft or loss. After implementing the FAME solution, customers can now automatically receive compensation decisions by comparing the approved merchant location with the actual location of the customer's mobile phone in real time, with customer consent. This has significantly reduced the burden and inconvenience of reporting, and the system was used in over 2,500 cases of theft and loss through September this year. Additionally, if multiple transactions are attempted in a short period in remote cities such as Seoul, Daegu, and Busan using the same credit card, the system cross-verifies mobile phone location data to more accurately determine suspicious activity.
June Park, Head of the AI Intelligence Business Division at SK Telecom, stated, "We are pleased to create a safer financial environment for customers through our collaboration with Shinhan Card, a leader in the financial industry. By supplying FAME, we aim to further enhance financial security by integrating telecommunications and financial data."
Moonil Cho, Head of the Consumer Protection Department at Shinhan Card, commented, "The introduction of FAME is an innovative step that makes customers' financial lives safer and more convenient. We will continue to strengthen our digital security capabilities and lead industry standards."

solidkjy@fnnews.com Koo Ja-yoon Reporter