FSS Raises Consumer Alert from "Caution" to "Warning"
Scammers Use Identity Theft and Compensation Claims as Bait
Funds Transferred Through Phishing Sites and Other Schemes
The Financial Supervisory Service announced on December 18 that it will raise the consumer alert level from "Caution" to "Warning" in response to the increase in secondary damages such as phone-based financial fraud (voice phishing) related to the Coupang personal information leak incident. Although a "Caution" alert was already issued on December 1, the decision was made due to the recent confirmation of new cases and the growing number of related reports.
The Financial Supervisory Service stated, "Recent schemes exploit consumers' anxiety and desire for compensation by mentioning identity theft crimes or compensation claims resulting from personal information leaks. Therefore, financial consumers need to exercise particular caution."
First, scammers impersonating government agencies such as the prosecution, police, or the Fair Trade Commission approach victims by pretending to perform government response work related to the Coupang data leak, such as checking whether the recipient has received a related text message. They then exploit victims' anxiety by claiming that their personal information leak has led to the opening of fraudulent bank accounts or involvement in money laundering and other crimes.
They also frequently use tactics such as telling consumers that a court notice related to a criminal case has been returned and must be checked online, or that it is necessary to confirm whether they have been victimized. When consumers access these sites, scammers induce them to enter personal information and install malicious or remote control applications (apps) under the pretense of identity verification. Once installed, these apps allow scammers to manipulate phone numbers, steal personal information from the victim's mobile phone, and track the victim's real-time location. Through these means, scammers take psychological control of the victim, who may mistakenly believe the information comes from legitimate public institutions such as the prosecution, police, or the Financial Supervisory Service. Victims subjected to such sophisticated gaslighting scenarios end up transferring funds at the scammers' request, under the pretense of asset protection or as a deposit for summary indictment, among other reasons.
The Financial Supervisory Service emphasized that if a public institution asks you to install a specific site or app under the pretext of a "court notice return" or "case verification," it is always voice phishing, stating, "For your safety, you should refuse to install any app at the request of a third party, even if it is through an official app store." By subscribing to the "Three Types of Safe Blocking Services," you can preemptively block damages caused by loan applications, non-face-to-face account openings, and open banking. Applications can be made at financial company branches or through bank apps. The "Three Types of Safe Blocking Services" refer to blocking loan transactions under another person's name, blocking non-face-to-face account openings, and blocking open banking services.
The Financial Supervisory Service also urged the public to report any voice phishing calls or texts immediately using the simple reporting feature on mobile phones. Since November 24, Samsung mobile phones have included a dedicated voice phishing reporting feature, separate from the regular spam reporting function. When receiving a voice phishing call or text, users can report it by clicking the "Report" button in the call log or the "Message Report" button at the top of the text message.
The Financial Supervisory Service stated, "We will continue our efforts to fundamentally block voice phishing not only within the financial sector but also by closely cooperating with relevant ministries through government-wide task forces."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
