South Korea voice phishing losses hit record 1.2 trillion won

Voice phishing incidents in South Korea are becoming less frequent but significantly more costly. According to data analyzed by National Assembly member Kwon Young-jin from the Korean National Police Agency, the total amount of damage from voice phishing reached a five-year high of 1.2578 trillion won in 2025.

While the number of cases dropped by 24.6% from 2021 to 2025, the total financial loss surged by 62.4% during the same period. This shift has more than doubled the average loss per incident, rising from approximately 25 million won in 2021 to roughly 53.84 million won in 2025.

The primary driver of this trend is the rise in impersonation-style fraud, where criminals pose as officials from public institutions such as the prosecution or the Financial Supervisory Service. These impersonation crimes accounted for 78.6% of all voice phishing damages last year, with losses in this category increasing nearly 5.7 times since 2021. In contrast, traditional loan-related fraud has seen a significant decline.