"Kim Dong-cheol, Administrative Officer." Warning for Financial Supervisory Service Impersonation Voice Phishing

Threatening Violation of Financial Transaction Act... Inducing Cash Repayment of Existing Loans
Direct Cash Extortion Instead of Account Transfer in Institution Impersonation Scam Method

[Asia Economy Reporter Kangwook Cho] #. Fraudster A approached victims by impersonating an employee of the Financial Supervisory Service (FSS) who was conducting an investigation into violations of the Financial Transaction Act. A deceived victims by claiming that to delete electronic records of violations of the Financial Transaction Act, they must deposit funds equivalent to the existing loan amount, and threatened victims by saying that if the law was violated, a fine of up to five times the existing loan amount could be imposed.

Additionally, A induced repayment in cash instead of account transfer, claiming that virtual account creation was not possible due to violations of the Financial Transaction Act. The victim handed over cash to fraudster B, who was responsible for cash withdrawal, under the pretext of repaying the existing loan, resulting in damages.

There is an increasing number of voice phishing cases where fraudsters impersonate the Financial Supervisory Service to embezzle funds, so caution is required.

On the 24th, the FSS issued a warning stating that recently, cases of voice phishing where fraudsters impersonate the 'Financial Supervisory Service' and embezzle funds by telling victims that additional new loans violate the Financial Transaction Act have significantly increased.

This type of fraud combines loan-related scams with impersonation of the FSS, using fictitious characters such as 'Manager Kim Dongcheol of the Sound Management Team' and 'Team Leader Jo Seongik of the Consumer Damage Prevention Team.'

According to the FSS Illegal Private Finance Reporting Center, the number of consultations increased from 212 cases in September to 202 in October, and 299 in November (a 48% increase compared to the previous month).

Until now, typical loan-related fraud cases have continued, where fraudsters impersonate financial company employees to embezzle repayment funds under the pretext of low-interest refinancing loans or demand fees for credit rating upgrades.

However, recently, the FSS explained that there has been a notable increase in cases where fraudsters impersonate FSS employees and directly embezzle cash rather than through account transfers.

The FSS warned, "There are cases where fraudsters open mobile phones in the victim's name and create non-face-to-face accounts to embezzle loan funds. If a malicious app for call interception is installed, the victim's phone may become disabled, so special caution is necessary."

Accordingly, the FSS explained that demands for money under the pretext of ▲repaying existing loans, ▲credit rating upgrades or inflating loan performance, and ▲requests to install apps from unknown sources should be rejected unconditionally.

An FSS official said, "You should call the remittance or deposit financial company's call center and the Financial Supervisory Service call center to request a payment suspension on the relevant account and file a damage relief application."

This content was produced with the assistance of AI translation services.