"My Daughter Said Her Phone Broke..." Warning for Messenger Phishing with Damage Amounting to '99.1 Billion Won'

Increased by 61.8 Billion KRW Compared to the Previous Year

Messenger phishing and voice phishing image. / Photo by Asia Economy

[Asia Economy Reporter Na Ye-eun] Since the COVID-19 pandemic, 'messenger phishing' scams have surged, with the reported damage amount reaching 99.1 billion KRW last year.

Messenger phishing is a criminal method where perpetrators hack into others' messenger IDs on platforms such as KakaoTalk, NateOn, and Facebook, then send messages to registered acquaintances to swindle money.

According to the Financial Supervisory Service, while overall voice phishing scam damages are generally decreasing, damages caused by the new crime method of messenger phishing are actually increasing annually. In particular, last year's messenger phishing damage amounted to 99.1 billion KRW, an increase of 61.8 billion KRW compared to the previous year, accounting for 58.9% of voice phishing damage types.

In response, on the 13th, the Korea Communications Commission announced that, in cooperation with mobile carriers and the Korea Association for ICT Promotion (KAIT), text messages titled 'Messenger Phishing Warning' will be sequentially sent to subscribers under the names of the three major mobile carriers, and for budget phone subscribers, prevention information will be provided via billing statements.

To prevent messenger phishing, it is essential to verify by direct phone call whether the person is indeed a family member or acquaintance, and never transfer money before confirming by phone. Also, suspicion should arise if a transfer request is made to an account not belonging to the family member or acquaintance.

Additionally, if messenger phishing or voice phishing is suspected, contact the relevant financial institution to request a payment stop. By calling 112 (National Police Agency) or 1332 (Financial Supervisory Service), one can report damages and receive consultation regarding damage refunds.

Meanwhile, to prevent messenger phishing, financial authorities plan to encourage financial companies to adopt financial app technologies that block the operation of remote control apps, considering the high number of messenger phishing scam cases involving remote control apps.

The National Police Agency will conduct an intensive crackdown on cyber financial crimes such as messenger phishing for eight months from March 1 to October 31, centered on the Cyber Economic Crime Investigation Teams installed at police stations nationwide.

Han Sang-hyuk, Chairman of the Korea Communications Commission, stated, "We will continue to strengthen cooperation with related agencies and pursue effective solutions to prevent communication financial fraud damages."