Hana Bank announced on August 11 that it has opened the Foreign Exchange Capital Transaction Center at Place1 in Samseong-dong, Gangnam-gu of Seoul, to further sharpen its competitiveness.
It’s making a move as a specialized foreign exchange bank and to respond more professionally to the diverse global financial needs of corporations and wealthy individuals.
The Foreign Exchange Capital Transaction Center is a specialized organization for foreign exchange capital transactions.
The center was established to proactively respond to increasingly complex and diverse foreign exchange capital transactions and financial needs for overseas relocations, such as foreigners’ direct investment in Korea, Koreans’ overseas direct investment and the acquisition of overseas securities, and to provide more specialized foreign exchange services to customers.
The Foreign Exchange Capital Transaction Center has specialized personnel for foreign exchange capital transactions in the Gangnam area with a large number of major law firms, accounting firms, corporations, and wealthy individuals.
Through this, the center will provide a one-stop specialized foreign exchange service that supports complex foreign exchange capital transactions more quickly and systematically based on a collaborative network with major law firms and accounting firms.
Customers can receive prompt and systematic consultation services regarding various foreign exchange capital transactions through the Foreign Exchange Capital Transaction Center including support for foreigners’ direct investment reporting and foreign currency account opening, foreign exchange reporting consultations related to domestic and overseas investments and real estate acquisitions and advice on foreign currency financing and cross-border capital transactions.
In addition, the Foreign Exchange Capital Transaction Center provides specialized financial services for overseas emigrants and overseas Korean nationals returning to Korea.
The center plans to provide customized financial services covering the entire process of overseas migration, from the remittance of relocation expenses, the acquisition of overseas assets, and foreign exchange reporting, to the settlement of funds after returning to Korea.
“Through the Foreign Exchange Capital Transaction Center, we will establish ourselves as an unrivaled foreign exchange specialist bank most trusted by customers by providing faster and more professional financial solutions for complex foreign exchange transactions,” Hana Bank President Lee Ho-sung said.
Prevention of Investment Frauds through FDS Advancement
Hana Bank announced that it successfully protected customer assets totaling approximately 18.5 billion won in 1,450 cases by preemptively preventing damage from “KReSIM,” a new type of investment fraud that has recently been mushrooming nationwide through precise monitoring powered by its advanced proprietary Fraud Detection System.
The KReSIM investment fraud is a large-scale new type of investment scam in which eSIM vendors recruit investors by promising high returns and multi-level commissions under the guise of selling eSIMs to foreign tourists, then stop settling profits and disappear.
It has caused damage amounting to hundreds of billions of won and affected 20,000 to 30,000 victims nationwide.
In particular, due to its structural characteristics that combine a “Ponzi scheme” method — paying returns to existing investors with new funds — with a multi-level membership recruitment method, the detection of fraud damage is delayed, making it a type of crime that is extremely difficult for financial institutions to prevent in advance.
In response, Hana Bank established an immediate response system in February and proactively engaged in comprehensive prevention activities by developing and applying monitoring scenarios that reflect the investment fraud patterns of ‘KReSIM’ to its Fraud Detection System .
Through a newly introduced “KReSIM prevention scenario,” if a transaction signal is detected in a KReSIM corporate account, the bank can immediately reject the transaction approval and block mobile banking app installation and login processes to prevent further fund outflows.
By implementing close customer care such as sending emergency KakaoTalk alert messages, providing risk information through one-on-one phone consultations with related staff members and offering guidance on reporting to the police, Hana Bank has succeeded in protecting customer assets totaling approximately 18.5 billion won in 1,450 cases since the scenario was introduced in February.
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