Accounts for ‘second hand transaction fraud’ are also tied immediately… New phishing transaction suspension takes effect from today
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From now on, transactions will be suspended immediately for accounts suspected of being used not only for voice phishing but also for so-called ‘new phishing’ such as second-hand transaction fraud or fake shopping mall fraud.
From now on, transactions will be suspended immediately for accounts suspected of being used not only for voice phishing but also for so-called ‘new phishing’ such as second-hand transaction fraud or fake shopping mall fraud. This is a measure to prevent further damage by blocking deposits and withdrawals before criminal organizations siphon off the damage to other accounts. The Financial Intelligence Unit (FIU) announced that it will implement a ‘new transaction suspension system for accounts suspected of phishing crimes’ starting on the 30th. Until now, financial companies were only able to quickly suspend payments to voice phishing accounts in accordance with the Telecommunications and Financial Fraud Prevention Act. However, new types of phishing, such as second-hand transaction fraud disguised as goods or service transactions and fake shopping mall fraud, are not subject to the law, making it difficult to immediately block accounts. For this reason, it has been pointed out that it is not possible to quickly block another victim from transferring money to the same account or a criminal organization from distributing the damage to other accounts. Accordingly, from now on, when financial companies discover accounts suspected of phishing crimes, they will first take temporary measures to temporarily block deposits and withdrawals. Afterwards, the police integrated response team
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