Apartment transactions at reported record highs shift across some Seoul districts, fraud detection with KakaoBank AI 4.4times higher
A trend has emerged in Seoul in which apartment transactions at reported record highs are declining in Gangnam and Yongsan while increasing in Yeongdeungpo, Dongjak, and Dongdaemun. KakaoBank announced that the number of financial fraud cases detected increased 4.4times after it introduced AI that analyzes behavioral patterns before and after transactions.
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Patterns in Seoul's apartment transactions at reported record highs are differing by area. 8The daily tally showed that transactions at reported record highs generally declined in Gangnam-gu and Yongsan-gu, while increasing in Yeongdeungpo-gu, Dongjak-gu, and Dongdaemun-gu. During the same period, the number of transactions and the share of transactions at reported record highs varied by district.
The overall trend this year also showed that the share of transactions at reported record highs declined in Gangnam-gu while increasing in Yeongdeungpo-gu and Dongdaemun-gu. Some areas undergoing reconstruction or redevelopment and changes in transportation networks appear to have affected transactions by area. The related statistics are calculated by combining monthly tallies with reported transactions at individual apartment complexes.
KakaoBank said it had introduced AI that comprehensively analyzes behavioral patterns around transactions on 9daily transactions. The system analyzes account transfers and pattern changes immediately before and after transactions together to calculate risk levels. The bank explained that the number of financial fraud cases detected increased 4.4times after its introduction.
The new system includes real-time detection and risk scoring capabilities. KakaoBank said it operates response procedures such as blocking accounts or suspending transactions when it detects abnormal signs. It is expanding the service through internal testing and phased implementation.
This series of reports shows changes on the ground along two axes: real estate transactions and financial security. Statistics from the government and financial companies, as well as the results of banks’ technology adoption, were disclosed as facts compiled as of the respective tally dates. Additional tallies and subsequent announcements by the bank are scheduled.