BNK Gyeongnam Bank Prevents Importer from 'Email Hacking Trade Fraud' Damage

BNK Gyeongnam Bank announced on the 13th that its headquarters departments and branches collaborated to prevent a regional import company's loss from an 'email hacking trade fraud.'

Gyeongnam Bank Headquarters.

On the 6th, BNK Gyeongnam Bank received a remittance request for trade payment of 114,000 euros (approximately 160 million KRW) from Company A, an import company located in Changwon.

The Foreign Exchange Department, while monitoring the remittance, found it suspicious that the beneficiary account of the export company, which had continuous transactions with Company A, had no remittance history in the past three years, and shared this information with the Changwon Industrial Complex Branch responsible for Company A.

The Changwon Industrial Complex Branch informed Company A that the beneficiary country had changed from Serbia to the Czech Republic and that the beneficiary account did not match the previous one, indicating the possibility of email hacking trade fraud.

Upon local verification, Company A confirmed the email hacking and canceled the remittance request, immediately taking action to prevent further damage by sharing information with Company A's suppliers.

On August 4th, the Foreign Exchange Department also prevented an attempt by a group of financial fraudsters who tried to remit 30,000 dollars (approximately 40 million KRW) overseas by accessing customers and causing multiple insurance policy loans.

Lee Young-mi, head of the Foreign Exchange Department, stated, “Recently, email hacking trade fraud has become more sophisticated than before, going beyond document forgery to building websites and using actual company names and contact persons. We will do our utmost to identify increasingly intelligent financial fraud methods in advance and reduce customer damage through continuous monitoring.”

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