The South Korean Government Announces a 40% Decrease in Voice Phishing Cases One Year After Implementing the Comprehensive Plan
The South Korean interministerial task force presented the results of its comprehensive voice phishing eradication plan, which led to a significant reduction in incidents and financial harm through a new preventive approach.
One year after its launch, the plan resulted in a continuous decline over ten months, from October 2025 to July 2026, with a 39.9% decrease in the number of cases and a 43.2% reduction in financial damages, which fell from 1,113.7 billion to 632.4 billion won. This progress stems from the implementation of key measures, including the creation of an Integrated Financial Fraud Response Team operational 24/7, and an emergency blocking system for fraudulent phone numbers within ten minutes, leading to the blocking of 115,088 numbers. Concurrently, enhanced investigations and increased international cooperation enabled the arrest of 38,577 suspects nationally and 405 abroad.
On the technological front, an artificial intelligence (AI) platform was deployed to accelerate information sharing among financial authorities, operators, and investigative services, preventing losses of 66.36 billion won. The legal framework was strengthened by amendments to several laws, including the Information and Communications Network Act to impose harsher penalties on spam, the Telecommunications Business Act to prevent the use of untraceable phones, and the Personal Information Protection Act to authorize AI training on real data for prevention purposes. Other reforms aim to extend protection to victims of fraud involving virtual assets and to simplify the confiscation of criminal proceeds.
In response to emerging scams via digital social networks (DSNs), such as investment fraud and romance scams, collaboration with platforms was intensified, resulting in the blocking of 53,000 accounts. The Financial Intelligence Unit (FIU) established a rapid freezing procedure for suspicious transactions related to these new frauds. Public-private partnerships were also established to provide legal, psychological, and financial support to victims.
One year after its launch, the plan resulted in a continuous decline over ten months, from October 2025 to July 2026, with a 39.9% decrease in the number of cases and a 43.2% reduction in financial damages, which fell from 1,113.7 billion to 632.4 billion won. This progress stems from the implementation of key measures, including the creation of an Integrated Financial Fraud Response Team operational 24/7, and an emergency blocking system for fraudulent phone numbers within ten minutes, leading to the blocking of 115,088 numbers. Concurrently, enhanced investigations and increased international cooperation enabled the arrest of 38,577 suspects nationally and 405 abroad.
On the technological front, an artificial intelligence (AI) platform was deployed to accelerate information sharing among financial authorities, operators, and investigative services, preventing losses of 66.36 billion won. The legal framework was strengthened by amendments to several laws, including the Information and Communications Network Act to impose harsher penalties on spam, the Telecommunications Business Act to prevent the use of untraceable phones, and the Personal Information Protection Act to authorize AI training on real data for prevention purposes. Other reforms aim to extend protection to victims of fraud involving virtual assets and to simplify the confiscation of criminal proceeds.
In response to emerging scams via digital social networks (DSNs), such as investment fraud and romance scams, collaboration with platforms was intensified, resulting in the blocking of 53,000 accounts. The Financial Intelligence Unit (FIU) established a rapid freezing procedure for suspicious transactions related to these new frauds. Public-private partnerships were also established to provide legal, psychological, and financial support to victims.
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