Voice phishing victims retrieve stolen money

Voice phishing victims retrieve stolen money

Korea's financial regulator said Wednesday it has returned 10.2 billion won ($9.1 million) worth of stolen money to voice phishing victims after a special law was passed last year. A total of 6,348 people who suffered damage from phone fraud cases, also known as voice phishing, retrieved their stolen money over the last five months, according to the Financial Supervisory Service. Voice phishing damage has been on the rise, with the amount totaling 101.9 billion won in 2011, nearly double the 55.4 billion won a year earlier. As part of efforts to curb voice phishing, a special law was passed in September to help victims retrieve their stolen money within three months. Earlier this year, the financial regulator also announced measures to clamp down on phone fraud cases, such as delaying withdrawals of large-sum financial transactions and reinforcing credit authentication