Council for the Prevention of Telecommunication Financial Fraud* issued a consumer warning on voice phishing. Voice phishing is on an upward trend again after showing a decrease since the counter measures were announced on December 1, 2013.
* FSC; Ministry of Science, ICE and Future Planning; Ministry of Justice; National Policy Agency, Korea Coast Guard, and Financial Supervisory Service
The authorities concluded that voice phishing frauds are increasing because it is becoming more difficult to commit financial frauds based on online platforms after the establishment of strengthened cyber security systems. For instance, number of smishing frauds decreased 92.8% during January to May, time when voice phishing frauds increased 33%, compared to the same period last year.
Usually, fraudsters claim themselves as investigative authorities and make phone calls or lure consumers to make phone calls to steal personal information. Fraudsters make consumers anxious and panic to make them surrender their personal information before even doubting.
Please be noted that financial institutions and public organizations in any case do not ask consumers for personal information through SMS. Please do not respond to any SMS requesting to send personal financial information. In case of any financial damage, please report to the police(112), FSS(1332) or respective financial company.