Prosecutors Uncover Large-Scale Fake Account Distribution Network...Active Bank Employee Also Involved

The prosecution has uncovered a large-scale organization distributing fake bank accounts linked to voice phishing. The organization included an active bank employee who assisted in opening fake accounts under ghost corporations.

Dummy bank accounts used in crimes such as voice phishing. On the 13th, the Seoul Eastern District Prosecutors' Office Voice Phishing Crime Joint Investigation Team (Chief Kim Ho-sam) announced that they have arrested 24 members of an organization distributing dummy bank accounts, including the ringleader A, who is charged with violating the Electronic Financial Transactions Act and aiding fraud. /Provided by Seoul Eastern District Prosecutors' Office

On the 13th, the Seoul Eastern District Prosecutors' Office Voice Phishing Crime Joint Investigation Team (Chief Kim Ho-sam) announced that they had booked 24 members of the fake bank account distribution organization, including the ringleader A, who is charged with violating the Electronic Financial Transactions Act and aiding fraud. Among them, 12 were indicted in custody.

The group is suspected of systematically distributing fake bank accounts by dividing roles such as ringleader, recruiters and intermediaries for fake accounts, and ghost corporation representatives from November 2020 to March this year. They established 42 ghost corporations and rented out 190 fake bank accounts to domestic and overseas voice phishing organizations. The estimated damage from voice phishing fraud through this scheme amounts to approximately 1.4 billion KRW.

The joint investigation team detected signs that A repeatedly opened fake bank accounts at a specific bank and launched an investigation. A exploited the government's disaster relief payments to small business owners during the COVID-19 pandemic to commit crimes. From February 2021 to June last year, A deceived the authorities by making ghost corporations appear as eligible small business owners for disaster relief payments and fraudulently obtained subsidies totaling 87.4 million KRW over 38 occasions. This is the first case of state subsidy fraud detected involving a fake bank account distribution organization.

Additionally, A requested broker B to intervene in police cases related to the fake account holders to obstruct the investigation. The joint investigation team confirmed that B received money and valuables under the pretext of case dismissal requests and indicted B in custody on charges of violating the Attorney-at-Law Act.

During the investigation, the joint team uncovered active bank employee C, who assisted A in opening fake bank accounts from January to August last year and, in return, attracted A to subscribe to funds and insurance products. C was also found to have leaked information about fraud victims who deposited money into the fake accounts to A. B was indicted without detention on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (accepting bribes) and aiding violations of the Electronic Financial Transactions Act.

A representative of the joint investigation team stated, "To prevent the opening of fake bank accounts, an essential tool for voice phishing crimes, we shared the findings on the distribution of fake accounts confirmed during the investigation with the Financial Supervisory Service and financial companies. We will actively develop preventive measures and strictly punish voice phishing crimes to protect the public."

The joint investigation team was launched on July 29 last year. So far, they have booked 270 domestic and overseas ringleaders of voice phishing organizations and detained 85.

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