How to Avoid Financial Fraud in Korea (II) — Voice Phishing

1.    How can we avoid falling victim to Voice Phishing?

A.     Never share your personal information, including but not limited to, your account number, credit card number, or internet banking information over the phone or enter such information on a suspicious website.

B.     If a caller asks you to go to an ATM, then that person is a scammer. They may lure you by saying that they can provide a refund of tax or insurance premium.

C.     When you receive a call that you find suspicious, end the call and confirm with the institution that the caller claims to be calling from by dialing the official phone number that is provided on its official website. Do not simply trust the caller just because he or she has some information about you. Also, note that caller ID (phone number) can be manipulated.

D.    If you believe that you have fallen victim to voice phishing or phone scam, immediately call your bank to request suspension of payment and call the National Police Agency at 112. If you are not confident with your Korean language skills, you can ask for translation services.

2.    What else do we need to be careful of when it comes to Voice Phishing?

A.     Many people unknowingly participate in voice phishing crimes by withdrawing money from an ATM and sending it to a stolen bank account. This mostly happens when people find online advertisements, especially on SNS platforms, which offer well-paying part-time jobs with ambiguous and seemingly easy tasks. Note that it is illegal to use someone else’s card or bankbook to withdraw cash or make a deposit at the request of another person.

–      There are cases where foreigners who are not familiar with Korean laws were arrested, imprisoned, and/or deported for trying to withdraw or deliver the money stolen through voice phishing. 

*You can report cyber crimes to the authorities here (Electronic Cybercrime Report & Management system)

**To report crimes to the authorities in English or other languages, you can check with your local police station and ask for a translation service. Seoul Mapo Police Station (02-3149-6670), for example, officially offers translation services.

Read More: How to Avoid Financial Fraud in Korea (III) — Message Phishing