If You Need Assistance With a Voice Phishing (Borrowed Account) Victim Relief Application
Why Is Recovery So Difficult in Borrowed-Account Voice Phishing Cases?
Telecommunications financial fraud (commonly known as “voice phishing”) typically involves transferring funds through bank accounts opened under third parties’ names (so-called fraud-use accounts).
Money transferred by the victim is quickly split across multiple accounts. Some funds are withdrawn in cash or converted into virtual assets, making tracing practically impossible.
If the financial institution’s payment suspension procedure is delayed, meaningful recovery becomes extremely difficult.
In organized schemes, roles are divided among recruiters, cash couriers, and managers, which makes identifying legally responsible parties time-consuming.
Accordingly, borrowed-account voice phishing cases are not simple financial incidents. They are serious criminal matters requiring simultaneous consideration of both criminal and civil response.
Immediate Actions After the Incident
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Immediately apply for victim relief through the financial institution after the transfer
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Report to the police and initiate a formal investigation
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Secure account flow data and organize call and message records
If response is delayed at this stage, funds will rapidly dissipate.
This matter must never be taken lightly. Even a few hours can determine the outcome.
After payment suspension, a claim extinguishment procedure is conducted by the financial institution and the Financial Supervisory Service, followed by a decision regarding victim refund distribution.
However, if an additional victim relief application is not submitted within two months from the public notice of the claim extinguishment procedure, the victim may lose eligibility for the refund (Article 6(1) of the Act on the Prevention of Loss Caused by Telecommunications-Based Financial Fraud and Refund for Loss).
Borrowed-account voice phishing cases require not only prompt initial measures but also systematic follow-up management.
Why Legal Assistance Is Necessary
Victims must simultaneously manage multiple response channels, including the Financial Supervisory Service, police authorities, and commercial banks.
Filing a simple report is not sufficient.
If the perpetrator can be identified, a civil claim for damages should be pursued in parallel. If a joint offender structure is revealed, strategies to assert joint tort liability must also be considered.
Where the principal offender cannot be apprehended, it may be necessary to examine whether the account holder who provided access media, while foreseeing the fraudulent use, may bear liability for damages under tort law.
However, proving the account holder’s foreseeability is essential, and liability may be limited if contributory negligence of the victim is recognized. Careful case-by-case legal analysis is therefore required.
Providing practical direction to clients facing such distressing circumstances is the role of legal counsel.
Attempting to navigate these procedures alone, particularly in an emotionally shaken state, can be overwhelming and complex.
