Search results for mule accounts
Telecommunications & Media
Whole-of-government voice phishing response cuts cases, losses for seven straight months
South Korea’s government said voice phishing cases and losses fell for seven straight months through April after a whole-of-government response. It said cases dropped to 9,353 from 14,461 a year earlier, while losses fell to 493.6 billion won from 763.2 billion won. Measures included an integrated response team, emergency phone-number blocks and an AI information-sharing platform. Authorities also expanded enforcement, arrests and asset recovery.
Finance
Capital market rules tighten as MyData programme expands
South Korean financial authorities are accelerating efforts to tighten capital market discipline, pledging tougher action against illegal practices aimed at avoiding delisting and pushing for timely exits of so-called zombie firms. Korea Exchange will introduce rules from July to delist penny stocks and raise standards for dealing with weak companies. Regulators also plan to curb duplicate listings and tighten reviews. Some decisions, including Hong Kong ELS fines and Samsung Securities approvals, remain delayed.
Finance
Woori Bank tightens controls on dormant and closed corporate accounts to block mule accounts
Woori Bank said on Wednesday it will strengthen management of corporate accounts linked to dormant or closed businesses to prevent financial fraud and money laundering. The move follows an increase in cases where accounts in the names of companies that have ended operations are used as mule accounts. The bank will apply account limits mainly to closed companies as of late February 2026 and may lift restrictions after verification. It will also conduct on-site checks of higher-risk firms.
