Toss Launches “Asset Protection Notification” Service

• Users can receive alerts and check for newly opened financial assets using MyData
• Aims to prevent the spread of damage caused by identity theft and unauthorized account openings

Viva Republica, the operator of the financial super app “Toss,” announced that it will launch a new service called “Asset Protection Notification.”

The Asset Protection Notification service alerts users whenever a new financial asset is created under their name. Its purpose is to prevent the spread of financial damage in cases such as identity theft, where financial assets could be created without the user's knowledge.

When users sign up for the service, Toss guides them to review financial assets that require verification using MyData. MyData is a system that consolidates financial information from various institutions into one place for easier management. By utilizing MyData, Toss enables users to check newly created deposit or loan accounts, as well as issued credit and debit cards.

The service updates once per day to check whether any new assets have been registered under the user’s name across connected financial institutions, once the service users access Toss’ MyData platform. If any unconfirmed assets are found, the user will receive an alert. Even if the user does not open the app, they will receive weekly notifications when new financial assets are created.

If the Asset Protection Notification shows financial assets that the user did not create or issue themselves, Toss provides guidance on how to prevent further damage. This includes, requesting transaction suspensions from the financial institution involved, reporting to investigative authorities and blocking mobile carrier-based micropayments, among other protective measures.

“This service is expected to help users protect their financial assets by enabling early detection of suspicious accounts that may have been opened through identity theft,” a Toss representative stated. “We will continue our efforts to create a safe and trustworthy financial environment.”