New address system also brings new scams, fraud

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New address system also brings new scams, fraud

With the new year, Korea has implemented a new address system, but with it new kinds of voice “phishing” scams have arisen.

The most popular new voice phishing calls are those that impersonate banks and ask for social security numbers, account numbers and passwords, claiming that they need the details to change a person’s old address to the new one.

In fact, banks and card companies have their own systems for changing customers’ addresses, and customers can directly change their old address by visiting banks’ websites or branches.

“Ahead of the implementation of road name addresses, consumers are urged to pay particular attention to phishing and fraud made by those impersonating financial institutions,” said one industry insider.

“If people want to change their address, they can apply for the KT address change service, which automatically changes all existing lot numbers registered at banks and home shopping sites to the new street addresses.”

Other routes these fraudsters are using are text messages on phones and holiday-related emails, for instance as New Year’s greeting cards. They also use fake gift coupons offered on mobile phones.

Other phishing frauds combine timely issues of the day, such as pretending to be asking an opinion poll about the Dokdo islets or the government’s welfare policy.

These methods are constantly evolving, utilizing the latest technologies to take aim at confidential information.

The links that are shown on fraudulent emails often contain familiar-looking URL addresses, such as .kr, .net and .com.

Pharming phone numbers often use the number 112, in order to pretend that they are coming from a reliable source, because the emergency phone number for contacting the police in Korea is 112.

Other growing phishing techniques include disguising a fraudulent message as congratulatory cards for school graduation and year-end tax adjustments.

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