Police bust Thailand-based phishing ring involving nude-photo extortion

This photo, provided by the Seoul Metropolitan Police Agency on Thursday, shows a Korean-Thai joint operation to bust a voice phishing ring in Bangkok. Courtesy of Seoul Metropolitan Police Agency

Police said Thursday they have busted a Thailand-based voice phishing ring that allegedly swindled 6.7 billion won ($4.73 million) from 68 victims in Korea last year.

Eleven members of the phishing ring, including its 29-year-old Korean leader, have been apprehended and referred to the Seoul Central District Prosecutors Office, with nine of them put under arrest, according to the Seoul Metropolitan Police Agency.

The police also took measures to freeze 157 million won in criminal proceeds.

The suspects, all in their 20s and 30s, are accused of impersonating Financial Supervisory Service and prosecution officials to demand and obtain nude photos from victims between May and December last year, producing sexual exploitation materials using the photos, and extorting about 6.7 billion won by demanding deposits purportedly for victim compensation.

The phishing ring was formed last year with 24 members, including 20 Koreans and four Chinese nationals, according to police officials.

They set up a call enter in Bangkok and carried out the scam by dividing their members into three roles.

Randomly selected victims were led to believe that arrest warrants had been issued for them on charges of involvement in money laundering and prostitution and were then tricked into sending nude photos under the pretext of a physical examination.

The suspects then demanded money as a court deposit to help resolve the cases and 68 victims remitted 6.7 billion won. One victim suffered the largest loss, sending the suspects 500 million won.

The suspects were apprehended in a joint operation with Thai police on Dec. 4 last year. Investigators from both countries are currently tracking down nine Korean members of the ring who fled in Thailand.