"Receiving a Text Saying 'You Are Eligible for Government Loans for Seol Holidays' Could Lead to 'Tears of Blood'"

Ahead of the Lunar New Year holiday, financial authorities have issued a victim advisory as illegal private loans, smishing, and messenger phishing crimes impersonating holiday gift deliveries, traffic fine payments, and event notifications are expected to surge.

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On the 5th, the Financial Services Commission and the Financial Supervisory Service advised that to have a safe holiday free from financial crimes affecting daily life, it is necessary to be aware of the following prevention tips and to be cautious of requests for fees under the name of loan brokerage and to verify registered lending companies.

They emphasized the need to first confirm whether the lending company is registered with the Financial Supervisory Service or local governments. The Financial Supervisory Service operates an integrated management site for registered lending companies nationwide, where one can check company names, phone numbers, and more. If a company name or phone number does not appear on the site, it is highly likely to be an illegal private lender.

Illegal private lenders cunningly exploit the anxious psychological state of consumers seeking urgent funds by emphasizing phrases such as same-day, non-face-to-face, and quick loans. If one hastily fails to verify whether the lender is registered, they may be exposed to high interest rates exceeding the legal maximum rate (20% per annum) or illegal collection practices that disclose the use of private loans to acquaintances.

Jeon Suhan, a director at the Financial Services Commission, explained, "It is difficult to identify the counterpart and verify them when contacted through means such as open chat where phone numbers cannot be identified, so it is advisable to avoid contact through such channels as much as possible."

Messenger phishing may also occur, where messages impersonate family or acquaintances, claiming an urgent situation and requesting money transfers, gift card purchases, or financial transaction information. Especially if an unidentified party requests app installation or account passwords, serious financial damage may occur, so under no circumstances should one comply with such requests; instead, hang up or ignore the messages.

Director Jeon said, "If you suffer damage from smishing or messenger phishing during the Lunar New Year holiday, you can receive 24-hour victim relief counseling such as payment suspension requests by contacting the Voice Phishing Integrated Reporting and Response Center or the call center of the financial company where the victim funds were deposited," adding, "It is important to actively use services such as personal information exposure registration, integrated account information management, and mobile phone identity theft prevention to prevent additional identity theft damages such as new account openings, loans, or credit card issuance without your knowledge."

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He also advised caution against being involved in voice phishing scams when conducting direct personal transactions of leftover foreign currency after holiday overseas travel. There are cases where small amounts of leftover foreign currency after overseas travel during the Lunar New Year holiday are bought and sold between individuals through online platforms or direct transactions. In such cases, voice phishing scammers disguise themselves as buyers of foreign currency and pay funds (in Korean won) obtained through voice phishing via account transfers, which can unknowingly involve the seller in voice phishing money laundering.

Director Jeon explained, "The account that received the foreign currency sales proceeds may be subject to payment suspension, and the foreign currency seller may face restrictions on all electronic financial transactions for a certain period, causing considerable difficulties in financial transactions such as account transfers and credit card payments," adding, "It is advisable to use financial companies such as commercial banks for currency exchange."

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