"Switch to Low Interest Rates" 42 Members of 3 Overseas Voice Phishing Organizations Arrested, 16 Detained

Busan Police Agency.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] The Busan Metropolitan Police Agency's Anti-Corruption and Economic Crime Investigation Unit arrested 42 members of three voice phishing organizations operating in China during a special crackdown period on overseas voice phishing organizations, and sent 16 of them to prosecution in custody.

The Anti-Corruption and Economic Crime Investigation Unit set up offices in Qingdao and Guangzhou, China, and conducted joint investigations with Chinese police.

The investigation team repatriated and arrested two members of the three voice phishing organizations who were in China, and also arrested the remaining 40 members who were active in South Korea.

The voice phishing organizations impersonated financial institutions over the phone and defrauded approximately 370 victims of a total of about 3.3 billion won under the pretext of "low-interest refinancing loans."

During the arrest process, the police additionally secured clues about a separate voice phishing organization and are continuing the investigation.

The investigation unit has taken various measures to recover illegal profits obtained through the crimes and restore damages by applying for pre-indictment seizure and confiscation of the suspects' assets, resulting in three court approval decisions.

The police plan to actively conduct joint investigations against voice phishing organizations based overseas and do their best to restore damages through pre-indictment seizure and confiscation.

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