Beware of Fake Sites Luring with 'Cheongnyeon Huimang'

‘Cheongnyeon Gippeum Dubae Account’ Phishing Site Emerges
Personal Information Input, Fake Account Fund Transfer Induced
FSS Issues Consumer Alert 'Caution'

A new type of scam disguised as policy financial products launched by the government and local governments to support young people in saving a large sum of money is spreading. The scammers not only created phishing sites mimicking the websites operated by local governments but also actively promoted them through social networking services (SNS) such as YouTube and Instagram, which are easily accessible to the youth.

A phishing site promoting itself through YouTube [Photo by Financial Supervisory Service]

On the 19th, the Financial Supervisory Service (FSS) warned financial consumers, stating, "Recently, phishing sites aiming to embezzle funds have been discovered, taking advantage of the increase in policy financial products targeting young people."

The phishing site detected this time was operating a website under the name "Cheongnyeon Huimang Gippeum Dubae Tongjang" (Youth Hope Double Joy Account), imitating Busan City's "Cheongnyeon Gippeum Dubae Tongjang" (Youth Double Joy Account). They copied the subscription site to make users input personal information and induced them to deposit funds into mule accounts. To cause confusion among young people, they also stole logos symbolizing institutions such as the Ministry of Economy and Finance.

Moreover, they actively promoted the phishing site on SNS platforms like YouTube and Instagram, which are mainly used by young people, pretending it was a government policy financial product.

Currently, access to the discovered phishing site and YouTube channel has been blocked.

The FSS explained, "Although procedures may vary depending on the implementing agency, there is no case where a transfer of funds to a specific account is requested," adding, "Most policy financial products require monthly payments from a bank account in the subscriber's name, so they do not ask for personal information to open an account or request transfers to virtual or other accounts."

They urged, "Before entering personal information or transferring funds, you must directly contact the relevant local government or government agency to verify the subscription procedure."

They emphasized, "If you have already transferred the funds, immediately request the police integrated reporting response center at 112 to freeze the relevant account."

Additionally, if personal information has been entered on a phishing site, it is necessary to register the exposure of personal information in the FSS’s ‘Personal Information Exposure Accident Prevention System,’ as there is a risk of further damage such as the opening of mule phone lines due to personal information leakage.

Furthermore, if you find a suspicious internet site, it is advised to report it to the Korea Internet & Security Agency (KISA) at 118 or check whether it is a phishing site by entering the site address into KISA’s KakaoTalk channel ‘Boho Nara’ (Protection Country).