New phishing scam impersonating public officials surges in South Korea

South Korean financial authorities are warning of a surge in a new type of phishing scam that impersonates public officials. Scammers are posing as employees from city halls, universities, or even prison staff to solicit fraudulent proxy purchases.

The Financial Services Commission's Financial Intelligence Unit (FIU) reported that as of August 4, financial institutions had temporarily frozen 4,935 cases identified as this new phishing method. These incidents have led to victims transferring funds under the false pretense of assisting with purchases requested by the supposed officials.

The FIU is collaborating with the National Police Agency's integrated response team to combat this evolving threat. The scam's sophistication lies in its use of trusted public sector identities to gain victims' confidence before requesting financial transactions. Authorities urge the public to exercise extreme caution and verify any such requests through official channels.