On September 18, in Cheongju, North Chungcheong Province, 2 collection agents for a chatroom investment scam were arrested and referred for prosecution after showing fake investment profits and then demanding more cash.
The victim had already handed over money several times on the pretext of investing, and the organization deceived the victim by claiming that a fee was necessary to make a withdrawal.
Before focusing on a screen showing high returns, the first thing to check is whether there is a demand to deposit money again in order to get the money back.
3-Line Summary
1. A demand for a withdrawal fee is a sign of an investment scam.
2. The Cheongju victim was asked to provide an additional 1억7000만원.
3. A demand to hand over cash is a reason to stop the transaction immediately.
A Demand for 1억7000만원 Following “26억 in Profits”
According to reports by Newsis and Newsian, the Cheongju Sangdang Police Station announced on September 18 that it had arrested and referred for prosecution 2 cash collection agents from an investment scam chatroom organization on suspicion of attempted fraud. They are suspected of making it appear on a fake stock investment website that profits of 26억원 had been generated, then demanding 1억7000만원 in cash from the victim as a fee to withdraw the profits.
Investigators found that the victim had previously handed over a total of 1억8000만원 to the organization in 5 installments under the pretext of investment funds. After the victim, who found the repeated demands suspicious, reported the matter, police arrested them at the agreed meeting place.
The most important point in this case is that it did not end with the initial deposit. Showing large fake profits can intensify the desire to recover money already paid. However, if someone demands additional money as a condition for withdrawal, it may not be a profit-realization procedure but a demand that further increases the damage.
Impersonating Public Institutions Also Gets People to Move Money First
No-show scams also exploit the expectation that a transaction will be completed. Yonhap News TV reported that an organization with a call center at a resort in Pattaya, Thailand, impersonated public institutions, placed bulk orders with small domestic equipment suppliers, and deceived them by promising an additional fee if they purchased the goods on the organization’s behalf from designated vendors.
Police investigated allegations that the organization defrauded 22 people of an amount in the 6억원 range over 2 months, apprehended 10 members, and referred 8 for prosecution after arrest. Even when claims that the counterparty is a public institution, that the order is large, and that an additional fee will be paid appear together, if the arrangement requires sending money first, the order itself and the designated vendor should be verified separately.
Whether it involves an investment or a supply transaction, it is better to stop if the other party permits only an account or cash-delivery method it has designated and demands an advance payment for a refund, withdrawal, or continuation of the transaction. As in the Cheongju case, a demand to designate a cash-delivery location is also far from a normal way to recover investment funds.
What to Preserve Before Clicking a Text-Message Address
Seongbuk-gu and police advised people to preserve relevant evidence, including text messages and phone numbers, and then report suspected financial fraud. The guidance also said not to click Internet addresses (URLs) in text messages whose source is unclear and to hang up on calls demanding a deposit or cash delivery.
If you continue a transaction based only on the profit figures displayed on a mobile-phone screen or the name of an institution mentioned by the caller, it may later be difficult to retrace what demands were made. The first step is to preserve information already received, such as contact details, text messages, and the details of a remittance demand, and to stop any additional transfers or cash deliveries.
References
Tags #Scam #InvestmentChatroom #InvestmentScam #WithdrawalFee #StockInvestmentScam #VoicePhishing #NoShowScam #PublicInstitutionImpersonation #CashDelivery #FinancialScam #Smishing #ScamPrevention