Impersonation Voice Phishing Losses Reach 93.1 Billion Won in 5 Months... Main Targets Are People in Their 20s and 30s

Phone financial fraud impersonating institutions such as the prosecution or the Financial Supervisory Service continues to occur, prompting the police to strongly urge caution.

According to the National Investigation Headquarters of the National Police Agency on the 3rd, the damage amount from institution-impersonation phone financial fraud from January to May this year was 93.1 billion KRW, a 14.7% increase compared to 81.2 billion KRW during the same period last year. This contrasts sharply with the damage amount from loan fraud phone financial scams, which decreased significantly from 181 billion KRW to 78.2 billion KRW. In particular, there were nine cases of high-value damage exceeding 500 million KRW within five months.

Victims of institution-impersonation phone financial fraud were mostly in their 20s or younger and in their 30s, groups with relatively less social experience. Among the total 7,363 victims reported up to May this year, 2,938 (47.9%) were aged 20 or younger, and 630 (8.6%) were in their 30s, accounting for more than half of all victims.

The police explained that since there have been no significant changes in the methods of institution-impersonation phone financial fraud, it can be sufficiently prevented by understanding the core characteristics.

Institution-impersonation phone financial fraud is divided into methods where the perpetrator approaches the victim from the start knowing their personal information, and methods where bait messages are sent to an unspecified number of people to lure them into a trap. The police especially advise that when scenarios diversify, unknown calls, texts, and social networking services (SNS) should be suspected without exception.

Some suspects have been confirmed to exploit victims' unfamiliarity with criminal procedures by sending prosecutor ID cards, official documents, and arrest warrants. They use a very intimidating tone to mention arrest, aiming to unsettle victims’ minds, impair their judgment, and block consultations with people around them.

Additionally, there have been cases where perpetrators impersonated employees of cooperative offices to make victims deposit apartment option fees or shared charges into accounts designated by the perpetrators.

The National Investigation Headquarters stated, “Investigative agencies never send warrants or official documents via social networking services (SNS) or text messages,” and urged, “There is no need to fear investigative agencies. First, hang up the phone and ask people around you. Especially if cash, virtual assets, or cultural gift certificates are requested under the pretext of asset inspection, it is 100% a scam, so you must hang up immediately.”

Meanwhile, the National Police Agency has posted a 'Voice Phishing Prevention Promotional Video' on its official YouTube channel, explaining the approach stages of phone financial fraud, the main functions of malicious apps such as Gangsu Gangbal, and more.

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