SEOUL — South Korea's dedicated anti-voice phishing investigative team has made significant headway, arresting 201 individuals involved in sophisticated financial scams over the past two years. The team, comprising about 50 personnel from seven institutions including the prosecution and police, was established in July 2022 to combat the escalating threat of voice phishing operations.
According to Yonhap News Agency, the collaborative efforts of the unit have led to the booking of 628 individuals and the formal arrest of key figures, including those responsible for providing essential logistics like repeaters, wireless routers, and burner SIM cards to the criminal rings. The crackdown has seen a substantial decline in financial damages from phishing, with losses decreasing by nearly 42 percent last year to 447.2 billion won ($324.3 million), down from 774.4 billion won in 2021. Despite these successes, the unit reported a potential uptick in fraud this year, with financial losses amounting to 324.2 billion won in the first half alone. The team warned that criminals are adopting more complex tactics and diversifying their methods, including through fake investment opportunities and romance scams, and plans to extend its operations for an additional year to counter these threats.