Beware remittance scams

Remittance scams don't stop at losing money — they can draw you into crime.

The typical tactics

1. Hawala-style illegal currency transfer — "the fee is cheap", taking your money into a personal account and paying out in local currency abroad. It is illegal, and you have little protection if the money vanishes.
2. Requests to lend your bankbook — "help with transfers and I'll pay you a fee". It is used for laundering voice phishing proceeds, and the account holder is punished.
3. Fake remittance apps and sites — links in texts that steal your data and money.
4. "I sent it by mistake, please return it" — unknown money arrives and return is demanded. Don't send it back — ask your bank.
5. Impersonating family at home — messages saying "I urgently need money". Always phone and verify directly.

Sending safely

• Use only banks or remittance firms licensed by the Financial Supervisory Service. Check with 1332.
• Send from an account in your own name and keep the receipt.
• Refuse any request to send to a personal account.
• Check the recipient's details twice.

If you are defrauded

1. Contact your bank immediately and request a payment suspension. Speed matters.
2. Report to 112 and use the police cyber crime site (ecrm.police.go.kr).
3. Consult 1332 (Financial Supervisory Service).
4. Keep all message records, transfer records and the other party's account number.

Where to go

• 1332 Financial Supervisory Service (illegal finance reports)
• 112 fraud reports · ecrm.police.go.kr
• Your bank's customer centre
• 1577-1366 · 1345 interpretation

Questions people ask

Money arrived from someone I don't know. Don't spend it — tell the bank immediately. It may be voice phishing proceeds, and returning it casually can make you an accomplice.

A family member is asking urgently for money. Don't trust the message — phone and verify directly. Scams using hijacked accounts are extremely common.

I used an illegal transfer and the money never arrived. Protection is limited because the transaction was illegal, but consult 112 and 1332. Gather evidence.

A link arrived in the app. Never tap it. Open the official app yourself and check there.

Take care

"I'll send it with no fee", "just lend me your bankbook" — these are criminal without exception. The person lending their name is punished, the account is frozen, and residence status is affected. Even if it costs a little more, use banks and licensed firms.

Related

remittance-guide · voice-phishing · job-scam · online-scam · bank-account-salary

Source

Financial Supervisory Service www.fss.or.kr / As of 2026-08