South Korean police arrest 26,000 in fraud crackdown

South Korean police have conducted large-scale crackdowns on financial crimes and cyber fraud, resulting in the arrest of over 26,000 individuals nationwide. According to the Korean National Police Agency, investigations conducted between March and August identified more than 61,000 cases.

Cyber fraud accounted for a significant portion of these crimes, with second-hand transaction scams making up approximately 50% of the total. Authorities noted that the rise in online trading platforms has increased the accessibility of these scams, which often involve relatively small individual amounts but high frequency.

Law enforcement also highlighted a trend toward organized crime involving international networks. Criminal groups based in countries such as China, the Philippines, and Cambodia have been identified, utilizing structured roles including deception, remittance, and withdrawal specialists. Specific cases included a multi-level marketing scam involving cryptocurrency that defrauded victims of 40.9 billion won.

In the Daegu region, the local police agency reported the detection of 3,623 cases and the arrest of 1,059 people during a specialized crackdown. These regional efforts mirror the national trend of targeting illegal private lending and sophisticated cyber-enabled fraud.