Gang arrested for converting 300 million won in voice phishing victim funds to cryptocurrency and smuggling them to China

Gang arrested for converting 300 million won in voice phishing victim funds to cryptocurrency and smuggling them to China

Daegu Jungbu Police Station refers 12 members, including the domestic head of a money laundering organization, to prosecution

A money laundering organization that converted approximately 300 million won in criminal proceeds, stolen from domestic victims who were deceived by a local voice phishing organization based in China, into virtual assets (cryptocurrency) and then smuggled them overseas, has been apprehended by the police.

Daegu Jungbu Police Station announced on the 15th that it has arrested and referred to the prosecution four individuals, including Mr. A (in his 50s), the domestic head of the organization, on charges (violation of the Act on Regulation and Punishment of Concealment of Criminal Proceeds, aiding and abetting fraud, etc.).

Additionally, eight other members of the organization, including those responsible for transport, withdrawal, and currency exchange, were referred to the prosecution without detention on the same charges.

According to the police, Mr. A's organization is suspected of having withdrawn approximately 300 million won, which 20 victims deceived by a voice phishing organization operating in China had remitted to 'burner' accounts used for the crime between January and March, then converted it into virtual assets and sent it to the local organization in China.

Previously, in March, after receiving a report of suspected voice phishing, the police emergency arrested a member of Mr. A's organization who was attempting to withdraw 33.9 million won in criminal proceeds.

Over the subsequent five months, through CCTV analysis, account, and communication investigations, the police apprehended all 12 members of the organization, including Mr. A and the Chinese head, managers, and withdrawal agents who had fled to China.

A police official stated, "Mr. A's organization received a certain amount of commission in exchange for remitting criminal proceeds to the local voice phishing organization in China. When the police investigation began, the members attempted to flee using burner phones and rental cars, but we tracked them down to the end and arrested them all."