Financial Supervisory Service Issues Warning on Loan-Impersonation Voice Phishing Scams
4 Out of 10 Victims Targeted by Loan-Impersonation Scams
The Financial Supervisory Service has recently warned that loan-impersonation voice phishing scams targeting self-employed individuals and low-income groups in urgent need of funds are rapidly increasing, due to high interest rates and delayed economic recovery.
On May 21, the Financial Supervisory Service announced that it had issued a consumer alert at the "caution" level for the general public regarding loan-impersonation voice phishing scams.
According to the Financial Supervisory Service, in the first quarter of this year, victims of loan-impersonation voice phishing accounted for 41.9% of all voice phishing cases, making it the largest category. This represents an increase of 29.7% compared to the same period last year.
Recently, it has been confirmed that scammers post false or exaggerated low-interest loan advertisements on the internet. When victims leave their contact information, someone posing as a legitimate consultant contacts them by phone or through platforms such as KakaoTalk or Telegram.
The scammers send files disguised as loan applications and provide malicious app links under the pretense of installing a dedicated loan app or security app. The icons of these malicious apps are nearly identical to those of actual financial institution apps, so the Financial Supervisory Service advises consumers to be suspicious if asked to install such apps.
In particular, after completing the loan application process, scammers demand advance payments for insurance premiums or deposits, claiming that the victim's credit score or transaction history is low. In some cases, they claim that existing loans must be repaid, leading to secondary losses.
The Financial Supervisory Service advises consumers to always verify whether a company is registered when applying for loans through internet advertisements. It also emphasizes that consumers should refuse to install apps if requested by unidentified individuals via messenger, and should never comply with requests for advance payments to secure loan approval.
The Financial Supervisory Service stated, "We will strengthen response measures, such as blocking advertisements on illegal private lending sites, by working closely with relevant agencies in the future," and added, "We will also continue to carry out customized public awareness campaigns to prevent loan-impersonation voice phishing scams, in cooperation with the financial industry and the Korea Inclusive Finance Agency."
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