[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Two men in their 20s who sent random text messages about government-supported low-interest refinancing loans and committed phone financial fraud (voice phishing) by calling victims for phone consultations were arrested by the police.
On the 11th, the Masan Eastern Police Station in Gyeongnam announced that they had arrested two phone financial fraud collectors who traveled around Busan, Ulsan, Gyeongnam, and Gyeongbuk regions, embezzling large sums of cash, on charges of fraud.
According to the police, they became involved in the crime after seeing high-paying part-time job advertisements on job search websites.
From May 31 to June 30, suspect A, a 29-year-old man, embezzled 525.83 million KRW from victims over 30 occasions, and suspect B, a 26-year-old man, embezzled 344.74 million KRW over 17 occasions.
The suspects sent random text messages recommending government-supported low-interest refinancing loans, then instructed victims during phone consultations to install malicious mobile apps on their phones, claiming they needed to fill out loan application forms.
Using the ‘call interception’ method through the installed app, they deceived victims by pretending to be employees of the loan companies they had previously used, violated the Financial Business Act, and induced victims to repay existing loans in cash, thereby embezzling the funds.
The money obtained through fraud was transferred multiple times via bank transfer without a passbook to members of the voice phishing organization.
A police official urged, “If someone demands cash under the pretext of low-interest loans from financial institutions or claims involvement in a crime by investigative agencies, it should be suspected as 100% voice phishing, and please report immediately to the police or the Financial Supervisory Service.”
Chief Oh Dong-wook said, “Recently, voice phishing collectors transfer cash obtained from victims through unmanned 365-day corner kiosks in secluded areas via bank transfer without a passbook,” adding, “They often carry bundles of cash or repeatedly transfer cash while looking at multiple account numbers and personal information on their phones, so if you see someone behaving like this, please report immediately.”
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