Hana Bank has thwarted approximately 1,450 fraudulent transactions linked to the spreading KReSIM investment scam, safeguarding around 18.5 billion won and enhancing its detection measures as scammers adopt more complex tactics.
Hana Bank said it has blocked about 1,450 fraudulent transactions linked to a fast-spreading investment scam known as KReSIM, protecting roughly 18.5 billion won in customer assets by tightening its financial transaction monitoring system. The bank said it built a dedicated detection scenario for the scheme after patterns linked to the fraud began circulating nationwide. According to the report, the scam has now produced thousands of alleged victims and losses running into the hundreds of billions of won.
The KReSIM fraud is said to have taken the form of an eSIM sales business that recruited investors by promising high returns and multi-level commission payments, while presenting itself as a venture aimed at foreign tourists. Once fresh money slowed, the operation allegedly stopped paying returns and disappeared. Authorities and market observers have described the case as a hybrid of a Ponzi-style structure and a multi-level marketing scheme, a combination that can delay suspicion because early payouts appear legitimate.
Hana Bank said it moved in February to add a dedicated monitoring model to its Financial Transaction Monitoring System, or FDS, so that transfers to the suspected corporate accounts would trigger an immediate rejection. The bank said it also blocked mobile banking app installation and logins tied to those accounts to limit further outflows. In parallel, it said it used instant KakaoTalk alerts, one-to-one phone calls and police reporting guidance to warn customers and reduce losses.
The bank’s move comes as South Korean financial authorities step up pressure on banks to improve fraud detection as investment scams become more sophisticated. The Financial Supervisory Service oversees compliance and consumer protection in the sector, while the government has also rolled out broader anti-fraud measures. Recent reporting in South Korean media has pointed to a rise in new scam formats, reinforcing the case for faster monitoring and more active intervention by lenders.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
