South Korea’s Financial Services Commission has implemented an expanded framework for sharing suspected voice phishing information through the AI-based Anti-Phishing Sharing and Analysis Platform, or ASAP. Financial companies, telecommunications providers, investigative authorities and other designated bodies may now provide financial, communications and investigative data to the platform without individual consent and use information supplied or analyzed by other participants for measures such as emergency telephone number blocking and criminal investigations. The framework covers account, transaction and account-holder information linked to suspected fraud, as well as telephone and user data, malicious application information and financial institutions’ suspicious transaction alerts. It extends participation beyond banks to non-bank financial institutions, prepaid payment providers, virtual asset exchanges and relevant supervisory and industry bodies. The revised rules provide exemptions from statutory restrictions on information sharing while imposing controls over data retention, deletion and destruction. The commission designated the Financial Security Institute as the information-sharing and analysis body operating ASAP. System links with telecommunications providers and investigative authorities have been completed, allowing expanded sharing to begin under the revised framework, while the commission plans to monitor operations and develop AI-based pattern analysis.

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