Woori Bank to launch next-gen AI fraud detection in November 2025

Woori Bank announced it will launch a next-generation AI-based fraud detection system (FDS) in November 2025, according to digitaltoday.co.kr. The bank said it plans to apply generative AI to analyze new fraud patterns and create new detection scenarios.

The announcement was made at a press conference on financial fraud prevention held at Woori Bank's headquarters in Jung-gu, Seoul. The bank said it has established a dedicated financial fraud prevention department and hired a former police expert, a first in the banking sector.

Woori Bank also said it has strengthened links between its FDS and its anti-money laundering (AML) departments. From April to August 2025, the FDS referred 639 suspected cases to the AML department, which reported 83 as suspicious transactions. Over the same period, 664 suspicious accounts at other banks were shared through the "ASAP" AI platform.

Woori Bank cited cases in which the system prevented losses: it identified contradictions in statements to prevent a loss of 260 million won, blocked an 80 million won transfer after checking a reported investment fraud account, and detected a transaction attempting to buy gold with a 180 million won loan, preventing further damage.

Financial fraud damage in South Korea increased from 791.1 billion won in 2022 to 2.3755 trillion won in 2025, a roughly threefold increase.