Kakao (035720.KS) said it signed a memorandum of understanding with the Korean National Police Agency on the prevention and eradication of phishing crimes at a meeting room of the agency's integrated response unit on Thursday. The signing ceremony was attended by Cho Seok-young, Kakao's compliance performance leader, and Oh Chang-bae, head of the Korean National Police Agency's Integrated Response Unit for Telecommunications and Financial Fraud, along with other officials from both organizations.
The agreement was pursued to jointly respond to increasingly sophisticated and rapidly spreading phishing crimes, including voice phishing and investment chat room scams.
Kakao plans to actively leverage its user protection capabilities to respond swiftly to phishing crimes on its platform and to support the police agency's efforts to eradicate such crimes.
First, Kakao will use the latest criminal data from the police agency to protect users from phishing crimes. By incorporating phishing-related information provided by the police into its operational policies and user protection processes, Kakao will immediately apply protective measures for users when reports are filed against accounts suspected of criminal activity.
The company will also implement measures to block criminals' access to its platform. When the police agency shares with Kakao a list of phone numbers used for criminal activity that have been suspended through reports and tips, Kakao will restrict accounts registered with those numbers to prevent further damage.
Meanwhile, Kakao has been continuing its efforts to create a safe digital environment by also collaborating with the Supreme Prosecutors' Office to prevent voice phishing crimes and respond to damages in real time.
"With voice phishing and new types of scam crimes recently spreading through platforms, this MOU with Kakao will serve as a practical opportunity to protect our citizens from crime," said Oh Chang-bae, head of the Integrated Response Unit for Telecommunications and Financial Fraud at the Korean National Police Agency. "We will further strengthen our public safety cooperation partnerships with private companies to prevent phishing crimes."
"Kakao has continuously implemented various technical and policy measures to provide a platform environment safe from phishing crimes," said Cho Seok-young, Kakao's compliance performance leader. "Through cooperation with the police agency, we plan to build a faster and more advanced response system and continue to strengthen our user protection capabilities."
