Gang Arrested for USD 1.1 Million Military Impersonation No-Show Scam Based in Vietnam - news.sbs.co.kr
Nine members of a Vietnam-based syndicate have been arrested for a USD 1.1 million 'no-show scam' that impersonated military units to defraud South Korean construction contractors.
The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced the transfer of nine suspects, aged in their 20s and 30s, to the prosecution in custody.
The 'no-show scam' involved perpetrators impersonating military units and requesting victims to purchase construction materials through specific proxy companies. After receiving deposits, the scammers would pocket the funds and cut off contact, leaving contractors with no actual transaction.
Sophisticated Methods
The syndicate employed sophisticated tactics to carry out their fraud. They used relay devices to make overseas calls appear as domestic numbers and created fake business cards and forged official documents. They also prepared response scenarios to counter victims' suspicions, using lines like, 'If you think it is a scam, you do not have to proceed with the transaction, so contact us again.'
Police Response
People should under no circumstances respond to proxy purchases, which are abnormal transaction structures, and stressed the need for caution, such as verifying through official contact numbers whether someone is an actual person in charge at a government office or company.
No-show scams accounted for 33% of approximately 20,000 new phishing damage reports nationwide during this period.
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