"100% Scam" Warning Issued for 250,000 Won Consumption Coupon Notification Text URL Links

No URL Links in Messages from Government or Financial Institutions
Report Suspicious Payment Scam Messages to 118

Yonhap News

Financial authorities have issued a warning that the number of text message payment scams (smishing) is expected to increase around July 21, coinciding with the application and distribution period for the "Livelihood Recovery Consumption Coupon."

On July 10, the Financial Supervisory Service announced that smishing attempts impersonating the government, credit card companies, and banks may rise, particularly those related to notifications about eligibility and amounts for the consumption coupon, card payment approvals, and application processes.

Smishing is a combination of SMS and phishing, referring to a scam in which a large number of SMS messages containing malicious app links are sent to users, luring them into installing malicious apps or making phone calls, thereby stealing financial and personal information.

Applications for the Livelihood Recovery Consumption Coupon can be made online (non-face-to-face) through credit card company apps, websites, call centers, ARS, and local gift certificate apps, or offline (face-to-face) at banks and local government offices (community centers) linked to the cards.

The government plans to include a smishing warning notice on the application page for online applications for the Livelihood Recovery Consumption Coupon. For digitally vulnerable groups such as the elderly, the government will also provide smishing warnings during in-person applications at banks and local government offices (community centers).

To prevent smishing damage, users are advised to actively use the national secretary's advance notification service. If they receive SMS notifications from unknown sources other than the national secretary, credit card companies, or banks, or if the SMS contains suspicious internet addresses impersonating the government or credit card companies, they should carefully scrutinize the message before taking any action.