SEOUL, Aug. 23 (Korea Bizwire) — The financial regulator said Friday it launched a new centralized program to allow consumers to opt out of credit services, such as taking out new loans, a move aimed at preventing potential damage from voice phishing scams. More than 4,000 financial institutions have signed up for the new “credit [...]
SEOUL, Aug. 21 (Korea Bizwire) – South Korea’s National Assembly is advancing legislation to address the widespread rental fraud scheme known as “jeonse” scams, with the plight of foreign victims highlighting the complexities of the country’s unique housing market and the challenges of providing equitable support. On August 20, amendments to the Special Act on Jeonse [...]
SEOUL, Jul. 9 (Korea Bizwire) — A probe has found large-scale insurance fraud at a traditional medicine hospital involving more than 100 people, the financial regulator said Tuesday. Around 100 “fake” patients at the hospital are suspected of having made false insurance claims worth about 100 billion won (US$72.3 million), according to the Financial Supervisory [...]
SEOUL, Oct. 27 (Korea Bizwire) — Two-time Olympic fencing medalist Nam Hyun-hee, hurt by scandalous allegations surrounding her former finance who turned out to be a woman, said Friday that she wants to break off the relationship. Nam reportedly told the police that she does not want to have any more contact with her ex-finance [...]
SEOUL, Oct. 16 (Korea Bizwire) — A total of 4,481 people have fallen victim to home rental scams this year, with their combined financial damage reaching 510.5 billion won (US$377.3 million), police data showed Monday. Police apprehended 2,582 suspects of so-called jeonse scams but were only able to retrieve 22.6 percent, or 115.3 billion won, [...]
FORT LAUDERDALE, Fla., Nov. 11 (Korea Bizwire) – Following reports by victims and witnesses throughout the United States, Canada, and Europe – the Lerman Law Firm (Cathy Jackson Lerman, P.A.) is issuing an International Fraud Alert warning of an ongoing scheme to defraud the public involving the sale of fake and/or non-existent Covid-19 vaccine products [...]
SEOUL, Oct. 22 (Korea Bizwire) — Live commercial broadcasts are gaining popularity as demand for contactless consumption is increasing due to the coronavirus pandemic. Live commerce combines live streaming and e-commerce in which consumers engage in live interaction with sellers online. For small businesses struggling with the coronavirus pandemic, live commerce is becoming a new [...]
BUSAN, May 30 (Korea Bizwire) — A jobless man has been detained for paying for taxi rides using fake US$100 bills printed for use in movies and pocketing over 300,000 won ($250) in change, police said Thursday. The 46-year-old suspect is accused of taking taxies from Gimhae International Airport in Busan four times this month [...]
NEW YORK, Dec. 11 (Korea Bizwire) — DoubleVerify (“DV”), the leading independent provider of marketing measurement software and analytics, today announced a partnership with InMobi, a global provider of enterprise platforms for marketers. As part of the partnership, DoubleVerify will provide always-on fraud filtering and measurement for mobile in-app advertising campaigns across the InMobi Exchange [...]
AMSTERDAM, The Netherlands, Apr. 4 (Korea Bizwire) — Acapture, a global, omnichannel payment processor has partnered with Sift Science, a machine learning company that protects businesses from fraud and abuse. Using the smartest technology for fraud management in their joint effort to make online experiences smoother and safer, the two companies form a powerhouse for [...]