Busan Police Warn of Nationwide Danger from Deposit Transfer Scam Using Fake Bank Accounts, Investigation Goes Public
Real Estate Boom Exploited with False Supply Contracts in Contactless Deals, Targeting Hard-to-Verify Fridays and Weekends
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] As new types of pre-sale rights fraud surged riding the real estate boom, the police have switched to a public investigation.
Although the investigation is ongoing, the police decided to make the case public to prevent similar damages from spreading. This is a new type of 'phishing' case targeting those trying to buy apartment pre-sale rights, occurring not only in Busan but nationwide.
On the 15th, the Busanjin Police Station in Busan announced that they are investigating a group who swindled 112 million KRW from six people using forged IDs and apartment supply contracts (pre-sale contracts) as bait.
The properties involved, currently identified, include three luxury apartments scheduled for occupancy in Nam-gu, Busan, and one redevelopment apartment in Busanjin-gu, totaling four locations.
According to the police, the group approached licensed real estate agents remotely, using COVID-19 as an excuse, saying things like "We posted the property at a low price, take a look."
All communication was conducted remotely via KakaoTalk and other non-face-to-face methods. The group took photos of forged resident registration cards, bankbook copies, and apartment supply contracts with their phone cameras and sent these messages to the real estate agents.
The supply contracts were meticulously prepared, attaching fake photos matching the forged IDs. The real estate agents, unaware of the fraud, even ended up assisting the phishing crime.
The group exploited the fact that pre-sale rights transactions occur before registration, and there is no way to verify the actual owner other than the housing supply contract between the winner and the developer.
Real estate agents contacted clients waiting to purchase pre-sale rights, and the victims transferred between 5 million KRW and 35 million KRW per person to the group's mule accounts as provisional contract deposits.
After receiving the money, the group cut off contact and disappeared. None of the victims had actually seen the faces of the perpetrators.
One real estate agent said, "These scams mainly happen on Fridays or weekends when it is difficult to contact redevelopment associations or developers. Impatient agents arrange deals without proper verification, leading to accidents."
The group is believed to have recruited people through part-time job advertisements and committed crimes using mule accounts under their names.
The mule accounts used in this scam were also found to have been used in similar schemes in Incheon and other areas last November. It appears that a specific pre-sale rights phishing organization expanded its criminal activities nationwide, reaching Busan.
A representative of a redevelopment association in Busan said, "There has been an increase in calls from people trying to trade pre-sale rights asking, 'Is this person the actual owner?' Those who bought pre-sale rights at low prices are anxious, wondering if they might have been scammed."
A police official warned, "New types of fraud involving pre-sale rights are spreading amid the recent real estate boom," urging caution not to fall for false listings.
The Economic Crime Investigation Division of Busanjin Police Station stated, "To prevent pre-sale rights resale fraud, it is essential to verify the actual owner at the sales office and confirm the reseller's identity directly through ID cards. We are also conducting preventive activities, such as sending cautionary notices about pre-sale rights resale fraud to real estate agent associations, to stop the spread of damage."
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