12 Voice Phishing Gang Cash Collectors Arrested... Baited with 'Low-Interest Loans'

Members of a criminal organization who, under the instructions of an overseas telephone financial fraud (voice phishing) syndicate, extorted approximately 1.1 billion KRW in cash from victims have been arrested by the police.

The Violent Crime Investigation Unit of the Busan Metropolitan Police Agency announced on the 19th that they have apprehended 12 individuals, including cash collectors such as Mr. A, involved in the voice phishing crimes, and have detained two of them.

According to the police, from August 2022 to February 2023, these suspects met with 33 voice phishing victims and extorted 1,147,660,000 KRW over 63 occasions.

The organization they belonged to reportedly deceived victims by impersonating financial institution employees, claiming that they would provide low-interest loans if existing loans were repaid.

Mr. A and others received instructions for their crimes via Telegram to evade investigative agencies, and showed meticulousness by paying taxi fares in cash only when traveling to meet victims.

Telegram conversation content ordering the crime. [Image source=Busan Police Agency]

The Violent Crime Investigation Unit of the Busan Metropolitan Police Agency tracked and analyzed security and private CCTV cameras installed across Busan, Ulsan, Gyeongnam, Gyeongbuk, Gyeonggi, and Gangwon regions for about seven months, arresting many members of the organization, and is continuing investigations to apprehend domestic and international accomplices.

A police official stated, “Financial institutions and public agencies never meet outside their official locations to collect cash, and we urge the public not to be deceived by bait messages offering random low-interest loans.”

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