1.    What are the types of financial fraud that foreigners can fall victim to?

• Phishing, more commonly known as phone scams, is the most common type of financial fraud that foreigners fall victim to.
   
  •  Some say the word Phishing is a combination of “Private Date” and “Fishing.” Some others agree that it is a variant of fishing but say that it is mixed with “Phreaker” and alludes to the use of increasingly sophisticated lures to "fish" for users' sensitive information. “Phreakers” refer to people who specialize in attacks on the telephone system, the word which became popular in the mid-1980s.
     
  • In Korea, phone scams (or vishing) are specifically referred to as “Voice Phishing,” and if it is done through a messaging app such as KakaoTalk, it is called “Messenger Phishing.”
     
  • Messenger Phishing is almost identical to Smishing which lures victims using text messages rather than messaging applications. The word smishing is a combination of SMS (short message service) and phishing.
     
• Other than Phishing, there are pharming and smishing which are done through the internet and smartphones, loan fraud, insurance fraud, and being tricked into providing bank account information to be used by scammers for illegal activities.

2.    What are the signs of “Voice Phishing” or phone scams?

• Impersonation: Scammers pretend to be an employee of government organizations such as the prosecutor’s office, the police, the Financial Supervisory Service, the Korea Immigration Service (Border Control Division), or an employee of a financial firm.
   
• Pressure: Scammers apply psychological pressure by telling you made-up stories such as, “Your information has been stolen,” “You are (or your bank account is) involved in a crime,” or “Your child (or a family member) has been kidnapped.”
   
• Manipulation of caller ID: Scammers manipulate the caller ID on the receiver’s phone to display the number of a financial company or a public institution so that the victims do not realize it is a phishing call.
   
• Direct withdrawal/Transfer: Scammers directly withdraw money from the victim’s account using the victim’s financial transaction information (account number, credit card number, internet banking information, telebanking information, etc.).

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

• 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.
   
• 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.
   
• 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.
   
• 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.

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

• 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. 

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