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 [...]
SEOUL, Feb. 7 (Korea Bizwire) – Last month’s Korean launch of Niantic’s Pokémon GO has put law enforcement agencies on high alert, mainly against trespassing and Pokémon GO driving, and officials are now advising players to also take heed against cybercrimes. According to the Korean National Police Agency, extra apps that can help players to [...]
SEOUL, Nov. 25 (Korea Bizwire) – As in America, Black Friday hype is also sweeping the Korean peninsula with local consumers looking for the best deals and discounts. But at the same time, the hype has bred victims of fraudulent activity, sounding a note of caution reminding consumers to be cautious with their purchase decisions. [...]
SEOUL, Oct. 7 (Korea Bizwire) – The Financial Supervisory Service joined forces with YTN FM Radio on Friday in an effort to fight voice phishing crimes, which have grown rampant in Korea over the past decade. In accordance with the agreement, YTN will air radio campaigns using voices of actual criminals to maximize the FSS’s [...]
SEOUL, July 15 (Korea Bizwire) – Police said Friday that Park Yoo-chun, the troubled member of K-pop boy band JYJ, is clear of sexual assault allegations but is being charged with prostitution and fraud. The 30-year-old actor-singer has been mired in a scandal as four different women, all working at local bars, lodged complaints against [...]
SEOUL, June 22 (Korea Bizwire) – Korea’s Financial Supervisory Service (FSS) revealed Tuesday that it has decided to implement a ‘Paparazzi Policy for Financial Malpractice’, through which informants can receive up to 10 million won ($8,600) in rewards. The policy will be operated until year’s end in order to dissuade unlawful financial activities, and encourage [...]
SEOUL, June 15 (Korea Bizwire) – South Korea’s state audit agency said Wednesday it has detected accounting fraud worth 1.5 trillion won (US$1.27 billion) at Daewoo Shipbuilding & Marine Engineering Co., adding that its main creditor also failed to provide appropriate surveillance and management of the firm. South Korea’s Board of Audit and Inspection (BAI) [...]
SEOUL, June 10 (Korea Bizwire) – A ‘black money’ con artist from Liberia has been arrested for embezzling 1.2 billion won ($1 million) from multiple victims across Seoul. A black money scam is one in which con artists fraudulently obtain money from a victim by persuading them that piles of banknote-sized paper are actual money dyed [...]
SEOUL, Feb 4. (Korea Bizwire) – A woman referred to as ‘A’ (49), who kept her husband’s dead body in their house and received his pension for seven years, has been found not guilty of committing fraud. The Seoul District Court ruled that ‘A’ was not guilty, as the date of her husband’s death was [...]
SEOUL, Nov. 11 (Korea Bizwire) – A South Korean mixed martial arts fighter has been indicted on charges of fraud, prosecutors said Wednesday. Choi Hong-man is accused of not paying back HK$710,000 (US$91,600) to an acquaintance. Prosecutors have said Choi borrowed the money from his acquaintance in Hong Kong in 2013 to buy watches for [...]