February 03, 2014 11:25
The number of online financial scams in Korea topped 30,000 cases last year as scamming methods become increasing diversified and sophisticated.
Police say they recorded more than 32,000 cases of scams like smishing, voice phishing, instant messenger phishing and memory hacking in the January to October period of last year.
Smishing caused the most damage to consumers, who incurred some US$5 million in losses.
Smishing uses short message services to lure people to false websites and dupe them into revealing their bank account or credit card information.
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