Korea to tackle phishing crimes as annual losses reach $575 mil.

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Korea is launching an intensive nationwide crackdown on phishing crimes, stepping up its fight as evolving criminal tactics make attempted scams an unsettling and pervasive part of people’s daily life, with financial losses soaring to nearly 800 billion won ($575 million) in just seven months.

Police said all available investigative resources will be mobilized for five months, starting Monday and lasting until Jan. 31, alongside a special enforcement campaign targeting phishing crimes.

Between January and July this year, 16,561 phishing cases — including voice phishing and smishing (a form of phishing using text messages) were reported nationwide. The financial losses reached 799.2 billion won, marking a dramatic 95 percent year-on-year increase in damages and a 14 percent jump in cases.

Authorities note this is already the highest seven-month figure ever recorded, quickly approaching last year’s total annual loss of 952.5 billion won.

Phishing schemes in Korea have grown increasingly sophisticated, blending seamlessly into daily life. Criminals are targeting victims through fraudulent investment chat rooms, romance scams and deceptive e-commerce deals.

Investment fraud accounted for 3,939 cases and losses of 343.8 billion won, while romance scams accounted for 1,163 cases totaling 70.5 billion won. “No-show” shopping scams added 2,892 cases, costing victims 41.4 billion won.

Offenders exploit mass text blasts, fake social media identities and realistic impersonations of businesses, government officials or acquaintances to blackmail victims, making scams harder to detect. These scams often create a sense of urgency or fear, demand personal information and ask victims to visit a fake government site or install unknown apps to steal data.

The crackdown is part of the government’s latest anti-phishing strategy revealed Thursday. More than 400 officers will join newly formed special units nationwide, with dedicated teams established in Seoul, Busan, Gwangju, southern Gyeonggi Province and South Chungcheong Province.

Police aim to crack down not only on phishing rings but also on the networks that support them, including money laundering operations, burner phones and bank accounts used for criminal activities.

National Police Agency Chief Park Seong-joo called on people to help fight crime, emphasizing a reward system now offering up to 500 million won for informants.

“We will mobilize every resource to stamp out phishing,” Park said.