Ring Involving Bank Workers Extorts W 2.3 Billion from Gambling Sites Using Dummy Accounts

▲ Proceeds of Crime

A dummy account distribution ring that laundered voice phishing funds into virtual assets and extorted billions of won by threatening online gambling site operators, along with bank workers who colluded with them, has been apprehended by the police.

The Cheongju Cheongwon Police Station in North Chungcheong Province announced today (October 13) that it has arrested and detained 8 individuals, including a man in his 20s surnamed A who headed the dummy account distribution ring known as the "Saseul Team," along with 2 bank workers, placing a total of 9 of them under custody.

Police have also identified and are investigating 80 account holders who handed over their bankbooks to the distribution ring.

Group A is accused of gathering 81 dummy accounts between October of last year and August of this year, laundering 365 million won in voice phishing damages transferred through these accounts, and passing the money to an overseas voice phishing organization.

They are further accused of extorting 2.32 billion won from 146 gambling sites by sending money to the sites' accounts and using threats such as, "We will have these accounts suspended."

Whenever a voice phishing report is filed, all accounts through which the embezzled funds passed are frozen, and the suspects allegedly exploited this loophole to blackmail gambling site operators.

It was revealed that the suspects handed over 3.7 million won and 90 million won, respectively, to bank workers at secondary financial institutions to obtain gambling site account information, and one of the implicated bank workers was in charge of managing abnormal voice phishing accounts.

Police have taken steps to freeze approximately 530 million won in criminal proceeds prior to indictment and plan to continue investigating the voice phishing organization and gambling site groups linked to the crime.

Lee Jong-soo, head of the criminal investigation division at the Cheongwon Police Station, stated, "Transferring or lending bankbooks, account numbers, or digital certificates to others not only leads to criminal abuse, but the lenders themselves can also face criminal punishment," adding, "People must be careful never to yield to financial temptations and hand over personal or financial information under any circumstances."

(Photo provided by Cheongwon Police Station, Yonhap News)

※