Shinhan 'The Moa Card' 890 Customers' Cards Suspended
Pharmacists Use Acquaintances and Family for Fraudulent Use
One Pharmacist Accumulates Over 1 Million Won
It has been revealed that some pharmacists have repeatedly engaged in fraudulent transactions using the 'Shinhan The Moa Card,' which rewards customers with cash-equivalent points for amounts under 1,000 won when paying over 5,000 won. In response, Shinhan Card has decided to suspend the cards of approximately 900 customers suspected of illegal activities.
On the 22nd, Shinhan Card determined that 890 The Moa Card customers violated the Specialized Credit Finance Business Act and the Standard Terms and Conditions for Individual Credit Card Members. After individual notifications and explanation procedures, their The Moa Cards will be suspended starting from the 29th.
All 890 individuals identified by Shinhan Card are either pharmacists or acquaintances and family members of pharmacists. Numerous cases were found where these pharmacists used their own cards and those of their acquaintances and family members for fraudulent use. For example, the owners of Pharmacy A and Pharmacy B made daily payments of 5,999 won at each other’s pharmacies. Additionally, cases were identified where about 10 customers made daily payments of 5,999 won at specific pharmaceutical wholesale malls. Shinhan Card noted that the approval order by card number was the same every day, and the approval time intervals were only 1 to 2 seconds apart, suggesting that one person collected the cards and made sequential payments.
There were multiple confirmed cases where a single pharmacist accumulated points exceeding 1 million won in a month using this method. Considering that a maximum of 999 won can be accumulated once per day at a single merchant, this means that payments of 5,999 won were made daily at about 30 different merchants.
Shinhan Card believes that these customers violated the Specialized Credit Finance Business Act by transferring or receiving cards, or by fabricating credit card transactions without goods or services, given that payments occurred daily at similar times at specific merchants far from the customers’ homes or workplaces. However, the company stated that it is not currently preparing for litigation.
A Shinhan Card official said, "The card suspensions being pursued this time are limited to certain customers," adding, "Due to the reckless and illegal card usage behavior of some customers, benefits that should have been distributed to many customers were concentrated among a few."
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