"Sold Cheaper Than Market Price" ... Gyeongnam Police Arrest Online Secondhand Transaction Fraudsters

102 People, Approximately 39 Million Won in Damages

Gyeongnam Provincial Police Agency. / Photo by Se-ryeong Lee ryeong@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] The Gyeongnam Provincial Police Agency has apprehended two fraudsters who deceived 102 victims online by pretending to sell secondhand goods, embezzling approximately 39 million won.

According to the provincial police agency, the suspects conducted fraudulent activities from around July to October using 82 fake accounts under others' names, including securities and savings accounts, as well as pre-purchased portal site fake accounts and prepaid SIM card fake phones.

They mainly posted advertisements on online secondhand trading cafes or apps, claiming to sell electronic devices, golf equipment, and other items at prices lower than market value.

To avoid suspicion, they wrote that "direct transactions are also possible," but when a deal was made, they delayed reporting by maintaining contact for a certain period, saying, "Due to personal circumstances, I will send the item by courier."

They also changed deposit accounts repeatedly by switching fake accounts.

Police investigations revealed that the suspects had no clear occupation and committed these crimes to cover living expenses.

The police stated, "Two suspects were arrested under Article 347 of the Criminal Act for fraud," adding, "We are investigating additional offenses, believing there may be more victims beyond those identified so far."

They are also investigating allegations that the suspects posted advertisements on SNS claiming to provide loans, and upon contact, obtained identification cards and digital certificates to create and use multiple accounts under others' names.

A police official emphasized, "In internet goods fraud cases, even if victims report the fraud to financial institutions, it is difficult to freeze payments, which tends to allow the damage to spread, so improvements are necessary."

They further warned, "When trading secondhand goods online, items sold at prices lower than market value or posts without a sales history are highly likely to be scams."

The Gyeongnam police said, "We recognize malicious fraudsters who directly harm the livelihood economy as serious criminals and will respond strictly, working swiftly to apprehend fraudsters causing multiple victims to minimize damage."

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