Prosecutors Indict Voice Phishing Money Launderers Following Supplementary Investigation

Individuals who laundered voice phishing funds by exchanging in-game currency and other methods have been indicted and are standing trial while in custody.

Cash seized by the prosecution from a voice phishing money laundering agent. Seoul Eastern District Prosecutors' Office

On November 18, the Voice Phishing Crime Joint Investigation Team of the Seoul Eastern District Prosecutors' Office announced that four money laundering agents involved in phishing schemes have been indicted and detained on charges including violations of the Act on the Recovery of Financial Damages from Telecommunications-based Financial Fraud.

According to the prosecution, from November 2022 to April of this year, these individuals are accused of assisting in laundering phishing funds by selling 51 billion won worth of online game currency through bank accounts opened under borrowed names.

The profits generated from the money laundering amounted to 4.7 billion won, and the prosecution seized 400 million won in cash from the suspects.

The prosecution also stated that, as part of a supplementary investigation, they tracked approximately 500,000 financial transactions related to a case in which a voice phishing cash collector was referred for prosecution in February. Through this investigation, they confirmed that phishing victims’ funds had been laundered. This collector was indicted without detention.

A prosecution official stated, "With thorough and persistent investigations, the Joint Investigation Team will ensure the safety of the public from phishing crimes."