Voice Phishing Ring That Swindled 880 Million Won via Fake Loan Offers Dismantled; 49 Arrested, 15 Detained

A large group of money collectors, withdrawers, and money launderers belonging to a voice phishing organization that lured victims with promises of low-interest refinancing loans has been apprehended by police.
The Hwaseong Dongtan Police Station in Gyeonggi Province announced on Tuesday (June 30) that it has apprehended 49 members of an overseas-based voice phishing organization on charges including violating the Act on Prevention of Telecommunications Financial Fraud, with 15 of them being detained.
The organization members are accused of swindling approximately 880 million won from 48 victims between September of last year and this month by impersonating financial institutions and offering low-interest refinancing loans to induce money transfers.
The group laundered the funds by having victims send money under the guise of low-interest loans, which were then used to purchase gift certificates at kiosks in large supermarkets.
The funds were then passed through multiple delivery agents before being converted into virtual assets and sent to the overseas organization.
The leadership of the organization compartmentalized roles so that members would not know each other's identities. They issued instructions via Telegram and ordered that all chat logs be deleted immediately after the instructions were given.
Police, who began investigating the case following a victim's report, explained that they were able to expand the investigation after receiving a notice of suspicious transactions from KB Kookmin Bank in March, which reported, "There are cases of large quantities of gift certificates being purchased with debit cards."
Police plan to continue the investigation under the assumption that the head of the organization is located overseas.
(Photo: Provided by Hwaseong Dongtan Police Station, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.