nProtect to Help Fight Smishing and Pharming with Police

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nProtect Research Lab to share financial fraud information with related agencies and businesses.

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nProtect, Inc., a global leader in Internet security solutions, announces nProtect Research Lab in South Korea has been invited by the Cyber Terror Response Center of the Korean National Police Agency to join a preemptive response force and fight against new and emerging financial frauds. Members from diverse fields will be cooperating together to prevent financial frauds such as Pharming and Smishing.

nProtect Research Lab and members such as Korea Internet Security Agency (KISA), Korea Financial Telecommunications and Clearings Institute (KFTC), financial institutions, mobile operators, mobile manufacturers, game companies, and portal site companies have joined together to cooperate and setup guidelines to fight new threats.

During the meeting that took place on December 2nd, information on new Case Study of Smishing and Pharming has been shared and the latest financial malware trends and response strategies were discussed. Afterwards, methods for police, business and inter-agency cooperation to block the financial frauds early on were discussed. Some of the topics that were discussed were hotline construction, institutional collaboration, continue to expand the target areas of information sharing, system improvement, bridge between public-private sector, establishing response strategy for new types of cybercrime, prevention and promotion channel diversification and unified information content.

The National Policy Agency stated that “it is important to share information between experts who detect, block and perform posterior measures for new financial crimes. This meeting has been established to respond quickly to financial fraud by joining forces of police, agencies and business.”

In addition, the National Policy Agency will increase cooperation with related businesses to develop fraud detection systems and alert systems to prevent new types of cybercrime. They will also hold a general meeting with all related agencies to setup an information sharing system to fight financial frauds.

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Don Lee
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