Seoul police announced on September 19 the progress of an investigation into a transnational fraud case. A scam group based in Cambodia, impersonating a well-known asset management company, defrauded 62 South Korean citizens over a period of nearly one and a half years, with a total amount of 8.4 billion Korean won (approximately 45 million yuan). Currently, 20 individuals involved in the case have been arrested, of which 7 have been transferred to the prosecutorial authorities, and another 7 overseas personnel have been listed on the Interpol red notice.
Investigations revealed that the scam group set up an operational base inside a mango plantation in Cambodia, posing as a legitimate financial institution. They established a fake stock trading platform and spread false investment information through social media channels, claiming to collaborate with several well-known asset management companies, and used "guaranteed daily returns of 5% to 20%" as bait to attract investors.
According to the police, the victims mainly fall into two categories: young people new to the job market and the elderly aged 50 to 60 with less investment experience. Individual losses ranged from several million to several hundred million Korean won, with some victims suffering significant financial losses.
The South Korean police stated that they are currently cooperating with Cambodian authorities to trace the flow of funds and the organization behind the scenes. The case is still under further investigation.
Cybersecurity experts remind investors to be cautious about investment projects that promise "sure win, no loss" and "high returns," as these are often packaged financial scams. Especially in cross-border investment activities, it is crucial to verify relevant information carefully to avoid falling into fraud traps.
Such transnational fraud cases have been increasing in Southeast Asia in recent years, and law enforcement agencies in various countries are intensifying cooperation to combat these criminal activities.
