Shinhan Financial Group Co., Ltd. (055550) unit Shinhan Life upgraded its fraud detection system, Newsis reported Saturday. The insurer said the system analyzes login and payment information in real time and uses shared fraud alerts.
Transactions identified as risky can require extra authentication or face immediate restrictions under the new system's controls. The insurer spent about five months on the upgrade after starting the project in March this year.
The system also allows staff to add detection scenarios and adjust existing rules when new fraud patterns emerge. The company's market capitalisation was ₩51.8 trillion at Friday's close.
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| Symbol | Last Price |
|---|---|
| 055550Shinhan Financial Group Co., Ltd. | ₩110,300 -3.7% |