Smishing, a type of cyberattack that uses phishing through text messages, is on the rise, especially during South Korean holidays. However, the arrest rate for these crimes remains low.
According to Jung Hee-yong, a member of South Korea’s 22nd National Assembly, the number of smishing incidents surged during Chuseok, a South Korean national holiday when families gather to spend time together.
According to statistics provided by the National Police Agency to Jung, there were 13 cases of smishing during Chuseok in September 2019, with a police arrest rate of 23.1 percent. However, by September 2023, the number of smishing cases had surged 13-fold to 165, but only 10 arrests were made, representing just 6.1 percent of the total cases.
Smishing crimes reported during the month of Chuseok from 2019 to 2023
“During the Chuseok holiday, when people are actively exchanging text messages with friends and family, it’s easy for smishing crimes to occur, as people tend to readily accept incoming messages,” said Jung. “Hacking can lead to further damage. We need to strengthen regulations on smishing and combat the crime by conducting preventive training,” he added.
Smishing, a combination of Short Message Service (SMS) and phishing, is a cybercrime that steals personal information through malicious links sent via text messages. These messages trick individuals into making payments or downloading harmful applications.
Smishing crimes have been steadily increasing. According to the Ministry of Science and ICT (MSIT), 887,859 cases of smishing were detected from January to June 2024. This is a significant rise compared to the 37,122 cases detected in the entire year of 2022—an increase of 850,737 cases.
The MSIT stated that scammers hacked individuals with the authority to send messages to customers and stole their accounts. They then used these accounts to send smishing messages containing malicious links.
The Korea Internet & Security Agency (KISA) revealed that there are several types of smishing texts. Scammers often impersonate acquaintances, sending malicious links disguised as wedding invitations or funeral announcements. They also create fake links that resemble legitimate sites, such as those for government agencies, courier services, or news outlets, which redirect users to phishing sites.
In addition, the United Kingdom issued a warning in September about smishing fraud at the start of the school term. The Student Loans Company, a government-owned entity, revealed that scammers target students who have just received their loans. In 2023, the company reported preventing £2.9 million ($3.9 million) in loan payments from being stolen due to smishing crimes.
“The Student Loans Company (SLC) will never ask students to provide or verify their personal or financial information via email or text message. Our message to students is simple: think before you click,” said a spokesperson for the SLC.
Related article: Romance scammers swiped over $30 million in first half of the year, South Korean police reveal
Romance scammers who exploited South Korean targets have reportedly swindled over 45 billion won ($32 million) from victims in the first half of this year. This information emerged for the first time as South Korean police started monitoring the impact of these fraudsters this year.
On Tuesday, the Korean National Police Agency (KNPA) disclosed that 628 cases of romance scams were reported to law enforcement officials between February and June. About half of these cases were reported in the past two months. These criminal activities resulted in financial losses totaling 45.4 billion won ($33 million), with nearly 25% of the losses occurring in March.
According to the police, the scammers targeted their victims through fake social media accounts, creating the illusion of a romantic relationship. After earning their victims’ affection and trust, they would request financial support. This often included asking victims to pay customs fees in advance on their behalf. In addition to this, the criminals extorted money by offering fraudulent investment opportunities, asking victims to exchange online points for cash, or by requesting funds for plane tickets and living expenses. READ MORE
