"Refinance Loans at Low Interest Rates"... Voice Phishing Gang Impersonating Savings Banks Arrested

Criminal Organization and Fraud Charges
Fraud Using Existing Loan Repayment as Pretext

A voice phishing gang that impersonated a savings bank and extorted money under the pretext of refinancing loans was arrested by the prosecution.

The Seoul Eastern District Prosecutors' Office Voice Phishing Crime Government Joint Investigation Team (Joint Investigation Team) announced on the 10th that they arrested eight members of the voice phishing organization and indicted the ringleader Mr. A (41) and manager Mr. B (39) on charges of organizing a criminal group and fraud, detaining them in custody.

They are accused of deceiving victims by claiming they would provide refinancing loans at low interest rates and that the victims needed to repay existing loans, thereby extorting cash.

The gang operated by partnering with a Chinese ringleader in Qingdao, China, learning the operation methods of a voice phishing call center, then moved to Suzhou, China, to continue their crimes.

According to the Joint Investigation Team's findings, the ringleader Mr. A was also confirmed to have profited by opening burner phones in Korea and sending or distributing them to China. Additionally, it was revealed that he imported and sold narcotics such as 'Ka-yan,' classified as psychotropic drugs, into Korea from China.

A representative of the Joint Investigation Team said, "Voice phishing organizations deceive victims by saying they need to build transaction records for loans or demand bankbook and account information," and added, "Please be cautious not to provide account information by falling for such tricks."