Gogolook Completes Application, Poised to Become the First New Economy Software Company to Transition from the Taiwan Innovation Board to the General Board

TrustTech provider Gogolook (stock code: 6902), has been listed on the Taiwan Innovation Board (TIB) for one year. Today (16th), Gogolook officially submitted an application to the Taiwan Stock Exchange for reclassification to the General Board, positioning it to become the first new economy software company to make this transition.

Since the new government took office, President Lai Ching-te, Premier Cho Jung-tai, Minister of Digital Affairs Huang Yen-nan, and Financial Supervisory Commission Chairman Peng Chin-lung have all prioritized anti-scam measures in their governance agendas. The anti-scam special law of fraud crime harm prevention has also passed its third reading. Gogolook is not only an indispensable member of Taiwan’s “National Anti-Scam Team,” but also a preferred partner for governments and well-known enterprises worldwide in combating scam, making it a highly representative global anti-scam concept stock.

Over the past year on the Taiwan Innovation Board, Gogolook has focused on service innovation and achieving operational goals, driving continuous revenue growth.  Last year, Gogolook’s overseas revenue surpassed its Taiwan revenue for the first time due to aggressive international expansion. This year, the company has accelerated its growth in the Southeast Asian market through a dual headquarters strategy in Taipei and Bangkok, with Thailand projected to become Gogolook’s largest market. In Northeast Asia, Gogolook has partnered with major Japanese corporations and recently entered Rakuten Mobile’s ecosystem, one of Japan’s four major telecom operators, launching the ”迷惑電話・SMS対策 by Whoscall” (Caller-ID & SMS Filter by Whoscall) service to combat scam in Japan. Gogolook’s successful overseas expansion has made it one of the few Taiwanese new economy software companies to penetrate the Japanese corporate system, setting a new milestone.

Gogolook is investing in high-growth areas like fintech and enterprise scam prevention. In May, Gogolook began collaborating with Netherlands-based anti-scam service provider ScamAdviser, aiming to enhance product optimization and drive innovation in scam prevention services. Both companies are leveraging their expertise to expand their reach in the European and American markets. With ongoing AI anti-scam service development and international expansion, the company aims for substantial profit growth this year.

Transitioning to the General Board on the Taiwan Stock Exchange is expected to significantly improve Gogolook’s trading liquidity, enhance its visibility in the capital market, accelerate overseas market expansion, and attract top talent. Gogolook Co-Founder and Chairman Jackie Cheng stated, “The widespread use of generative AI in scam has created a more urgent need for anti-scam solutions. This year, we are expanding our investment in AI applications and service innovations, with results to be launched in the second half of the year. With our operations reaching a breakeven point, we are confident in achieving substantial profit growth this year. Supported by our clients, partners, government recognition, and long-term stable support from shareholders, Gogolook has established a solid foundation and is ready to transition to the General Board, poised for the next wave of growth!”

Gogolook will continue to innovate in personal cybersecurity, enterprise scam prevention, and inclusive fintech, aiming to protect more individuals and businesses while developing diverse and stable revenue sources. The company will maintain an open and innovation-encouraging culture, attracting top talent, and providing excellent user experiences. Gogolook aims for long-term growth that outperforms the global industry average, pursuing sustained revenue and profit growth through exceptional investment efficiency.

As scam cases and financial losses continue to rise in Japan, the National Police Agency reported an 8.4% increase in scam reports last year (2023), with total financial losses reaching 45.26 billion yen, a 22% year-on-year increase. In response to the growing threat of scam in Japan, TrustTech leading provider Gogolook announced today that its Japanese subsidiary, Whoscall, has entered into a partnership with Japanese telecommunications company Rakuten Mobile. This collaboration will offer Rakuten Mobile users the exclusive”迷惑電話・SMS対策 by Whoscall” (Caller-ID & SMS Filter by Whoscall) product and payment solutions. The partnership aims to protect a broad user base, and the sales plan has officially launched.

According to the “2023 Asia Scam Survey Report” by GASA and Gogolook, the top three channels through which Japanese citizens encounter scam are email (34%), SMS (44%), and phone calls (34%), highlighting the prevalence of scam via traditional communication methods. With the development of generative AI,the sophistication and frequency of scam are expected to rise, making prevention more challenging and necessary. Since 2020, Whoscall has collaborated with governments in cities such as Fukuoka, Shibuya (Tokyo), and Yokohama (Kanagawa), receiving official recognition with its anti-scam services .

This collaboration with Rakuten Mobile, one of Japan’s four major telecom operators, further solidifies Whoscall’s reputation. By leveraging Rakuten Mobile’s well-established local telecom ecosystem, the partnership will offer the “Anti-Scam Call & SMS by Whoscall” service to enhance customer protection against scam and harassment, increasing the service’s penetration rate.

Jeff Kuo, CEO and co-founder of Gogolook, stated, “The international market is a key growth driver for Gogolook. After extensive efforts, we have gained the trust of a major Japanese telecom operator, highlighting the value of our product. With this landmark partnership, our Japanese team will continue to advance collaborations with large enterprises and local governments, introducing and developing more anti-scam solutions needed in Japan to jointly protect the safety of Japanese citizens.”

The Criminal Investigation Bureau and the Financial Supervisory Commission have initiated anti-fraud collaboration concerning watch-list mechanisms, recently extending its scope from foreign to domestic territories. This highlights the reduction of watch-listed and strawman accounts as the focal point in combating fraud operations. To fulfill its duty in financial fraud prevention, Bank SinoPac, in collaboration with Gogolook, has achieved breakthrough results in watch-listed account detection after several months of research and concept validation. Through emerging technologies in AI and data analytics, Gogolook has helped Bank SinoPac’s risk control teams enhance their anti-fraud efficiency while also boosting customer protection.

Industry’s First Anomalous Account Detection Mechanism! Bank SinoPac and Gogolook Join Forces to Block the Last Mile of Fraudulent Money Flow

In response to trends in financial fraud prevention, the Financial Supervisory Commission encourages banks to allocate resources to assist in fraud prevention, including strengthening risk control systems and operational procedures, and enhancing scam identification capabilities through emerging technologies. Observations show that scam groups often target inactive and newly opened accounts as intermediaries for fraudulent money flows. By partnering with Gogolook, Bank SinoPac has further enhanced the accuracy of anomalous account detection under its existing AI risk control model, significantly reducing the chances of banks or customers being maliciously exploited, while also lowering the bank’s management costs. Yu-ping Chang, head of the Operation Division at Bank SinoPac, stated: “For new accounts, Bank SinoPac enhances identity verification strength through our in-house AI review model and integrates anomalous account detection to continuously reduce the number of watch-listed accounts. The scope of application extends to other operations of our bank, strengthening our capabilities in fraud prevention, blocking, and detection. Thus, we are able to weave a more intricate anti-fraud network for Bank SinoPac. To continuously enhance the security of customer assets, we are actively integrating the latest anti-fraud technology applications and carefully assessing the actual benefits and security of related solutions as we are committed to creating a better financial service experience.”

Gogolook has long been committed to innovating anti-fraud technologies and deepening national anti-fraud education. It has also formed Community Anti-Fraud Patrol Teams in cooperation with National Police Agency, the Ministry of the Interior. Recently, Vice President Lai visited Gogolook as a destination of his industry visits. Gogolook was the only representative in the anti-fraud field. Vice President Lai also reiterated the government’s stance of “never stopping until fraud is successfully combated”. In addition to a series of consumer anti-fraud services, Gogolook has also developed customized corporate anti-fraud solutions, with clients including over 10 banks and financial institutions. Boice Lin, Gogolook’s Chief Commercial Officer, mentioned: “Whether it’s the recent Global Fraud Summit hosted by the UK Home Office or the EU’s 3rd Payment Services Directive (PSD3), both emphasize the joint compensation responsibility for fraud financial losses that operators will bear in the future. Governments and industries worldwide are drafting anti-fraud strategies and making proactive arrangements, and as a leading brand in the industry, we are actively exploring the needs and challenges of our partners to pursue compliance and establish a safe consumer environment.”

Many people fall into the traps of scam groups due to urgent job-seeking or loan needs, where they inadvertently hand over their financial cards, passbooks, and seals to become victims of strawman accounts. Once caught by the police, not only are all accounts under their name frozen, but they also become defendants in criminal cases, subsequently bearing compensation responsibilities. The Criminal Investigation Bureau’s Crime Prevention Affairs Division stated: “Reducing the problem of strawman accounts is akin to blocking the flow of scammed money. It plays a crucial role in fraud prevention and is the goal of the Bureau’s continued collaboration with the Financial Supervisory Commission. From bank counter care to technical cooperation between operators, a multi-faceted joint defense protection mechanism will help enhance the detection and preemptive blocking of anomalous accounts.”

About Gogolook

Gogolook is a leading TrustTech company established in 2012. With “Build for Trust” as its core value, it aims to create an AI- and data-driven global anti-fraud network. From multi-communication to fintech, and SaaS, Gogolook creates trustworthy empowerment with the use of technology in various fields. A founding member of the Global Anti-Scam Alliance (GASA), Gogolook has also teamed up with a number of institutes such as the Taiwan National Police Agency, the Financial Supervisory Service of South Korea, Thai Royal Police, the Fukuoka city and Shibuya city government, the Philippines Cybercrime Investigation and Coordinating Center, and the Royal Malaysia Police and state government to fight fraud and ultimately. With the largest phone number database in East Asia and Southeast Asia as its foundation, Gogolook is dedicated to creating a “fraud-free environment.”

Information about Gogolook’s services is available at: https://gogolook.com/en.