Shinhan Financial Group said it held the fifth Common People's Economy Guardian Hero Awards ceremony with the Korean National Police Agency on the afternoon of Jan. 6 at the agency’s Eoullim Madang in Seodaemun district, Seoul.

The awards ceremony has been held annually as part of a memorandum of understanding signed by Shinhan Financial Group and the Korean National Police Agency in July 2021 to eradicate livelihood financial crimes.

At the fifth ceremony, 10 people were selected for the award. They included 5 police officers who arrested criminal groups such as illegal private lending organisations that lure victims with high-interest loans and investment fraud rings impersonating fake investment experts. The recipients also included 5 citizens, including a person who detected forged contracts and seals at a bank counter and deferred the payment of a cheque.

Shinhan Financial Group Chairman Jin Ok-dong and acting Korean National Police Agency Commissioner General Yoo Jae-sung presented commendations and letters of appreciation to the police officers and citizens selected as heroes. They also awarded 3 million won in prize money per person.

Jin said voice phishing crimes are becoming more sophisticated, but the heroes' courageous judgement and actions helped protect neighbours' valuable assets. He said Shinhan Financial Group will continue to carry out its social responsibility to prevent financial fraud and provide relief to victims.