"KakaoBank Fraudulent Use Accounts Increase 13.6 Times"

Increased from 199 in 2017 to 2705 in 2020

Payment Suspension Status Due to Fraudulent Accounts (2017~2020)

[Asia Economy Reporter Park Sun-mi] The number of fraud-use accounts at KakaoBank increased 13-fold from 2017 to 2020.

According to data submitted by the Financial Supervisory Service to National Assembly Financial Services Committee member Bae Jin-gyo (Justice Party) on the 1st, the number of fraud-use accounts suspended last year among the five major commercial banks recorded 17,063 cases, a decrease to 76.0% compared to 2017. Kookmin, Shinhan, Woori, and SC First Bank decreased to 62.6%, 69.2%, 93.5%, and 52.1% respectively, while Hana Bank slightly increased to 111.2%.

On the other hand, the two internet-only banks increased 8.8 times from 356 cases in 2017 to 3,128 cases in 2020. K Bank increased about 2.7 times from 157 to 423 cases, and KakaoBank surged 13.6 times from 199 to 2,705 cases.

Fraud-use accounts under the Telecommunications Fraud Damage Relief Act refer not to so-called "dapo accounts" (accounts where the name and user differ), but to accounts to which the victim's funds were transferred or accounts used for transferring funds from those accounts. It is a broader concept than dapo accounts, encompassing all accounts involved in electronic telecommunications financial fraud that caused property damage to victims.

Assemblyman Bae Jin-gyo stated, "Considering that these are cases reported and suspended, the actual number of accounts used illegally is likely much higher," and added, "Especially since the number of fraud-use account suspensions at internet-only banks has rapidly increased in a short period, the financial authorities should analyze the reasons and promptly prepare countermeasures."

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