Impersonation of Special Employment Promotion Incentives, Low-Interest Loans, and Small Business Support Funds on the Rise
Avoid Clicking on Unverified URLs and Installing New Apps
[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government has issued a 'damage advisory' warning as smishing and voice phishing related to loss compensation payments, quarantine support funds, and livelihood stabilization funds for artists provided to small business owners affected by COVID-19 are on the rise.
According to Seoul City on the 26th, the number of smishing reports (received) and blocks impersonating public institutions over the past three years has increased by more than 45,000% compared to before the COVID-19 outbreak. The number of reports and blocks, which was 36 in 2019, rose to 12,208 in 2020 and recorded 16,513 last year.
Most fraudulent text messages attract citizens' attention by including content such as cash support and low-interest loans related to policies known through news, such as 'loss compensation,' 'emergency livelihood stabilization funds,' and 'employment promotion incentives,' then induce recipients to click on internet addresses (URLs) or make phone calls to check eligibility or application methods. Clicking on the internet address as requested may install malware, leading to personal information leakage, and calling the provided number may result in voice phishing scams where the counselor asks for account numbers and withdraws deposits.
A Seoul city official emphasized, "To prevent COVID phishing, first of all, never click on internet links included in messages from unknown sources," adding, "In fact, public institutions, local governments, or financial institutions do not send text messages related to COVID-19 support funds that induce clicking on internet address links or installing apps."
If suspected of voice phishing or smishing, report to the National Police Agency (112), Financial Supervisory Service (1332), or Korea Internet & Security Agency (118), and apply for payment suspension or refund to the relevant financial institution.
Meanwhile, to prevent the increasing damage from voice phishing, Seoul City enacted the 'Ordinance on Support for Prevention of Telecommunications Financial Fraud Damage' in December last year. It has also produced voice phishing prevention videos and distributed them for use as educational materials by financial institutions and local governments.
Han Young-hee, Seoul City Labor, Fairness, and Coexistence Policy Officer, said, "Many citizens are experiencing difficulties due to the recent increase in COVID phishing impersonating support funds," adding, "Preventing telecommunications financial fraud and responding promptly are most important, and we will strive to strengthen cooperation with related organizations such as the police and the Financial Supervisory Service to prevent damage and provide relief to citizens."
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