[Exclusive] Suhyup Bank's Average Voice Phishing Losses Surge Despite Decline in Cases; Recovery Rate Only 34.9%

[Financial News] Suhyup Bank's voice phishing losses have exceeded 22.2 billion won over the past five years or so, but only one-third of the money has been recovered. In particular, although the number of cases has declined, average losses have surged every year. Meanwhile, growth in subscriptions to the Credit Transaction Safe Blocking Service, which is designed to prevent losses, has slowed, prompting criticism that Suhyup Bank's management efforts are inadequate.
According to data submitted by Suhyup Bank to Rep. Lee Yang-soo of the People Power Party (Sokcho, Inje County, Goseong County, and Yangyang County), a member of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee, on the 28th, Suhyup-related voice phishing losses totaled 995 cases and 22.2428 billion won from 2021 through August this year. During the same period, 7.77055 billion won was recovered, equivalent to only 34.9% of the total losses.

Victims aged 60 or older accounted for the largest age group, with 427 people affected. In other words, more than four in 10 victims were aged 60 or older. Their losses totaled 8.28472 billion won. In particular, through August this year, losses among victims aged 60 or older amounted to 1.97475 billion won, or 72.3% of the total 2.73111 billion won in losses.
It is also notable that the number of cases has declined each year while the losses have grown. The number of cases fell from 264 in 2023 to 177 in 2024 and 127 in 2025. By contrast, average losses per case rose from approximately 21.52 million won in 2023 to 26.76 million won in 2024 and 35.26 million won in 2025. Last year, the number of cases fell to about half or less of the 2023 level, but the total losses declined by only about 21%, from 5.68145 billion won to 4.47798 billion won.
Expansion of the Credit Transaction Safe Blocking Service to prevent losses has also been slow. Introduced in August 2024, the service blocks new credit transactions, such as unsecured loans and card loans, in advance when customers do not want them.
The cumulative number of Suhyup Bank customers signed up for the Credit Transaction Safe Blocking Service rose sharply from 1,337 in 2024 to 14,253 last year. However, as of August this year, the number stood at 14,417, an increase of only 164 from last year's figure. The subscription rate among all customers remained at 0.18% both last year and this year. That amounts to only about 1.8 subscribers per 1,000 customers.

Efforts to encourage subscriptions were also found to be inadequate. Suhyup Bank carried out campaigns encouraging customers to sign up for the Credit Transaction Safe Blocking Service four times in 2024 and five times last year. However, it had not conducted a single such campaign through August this year.
Rep. Lee Yang-soo said, "Although voice phishing losses have reached 22.2 billion won over the past five years or so, the amount recovered remains at about one-third. Suhyup Bank should strengthen guidance on signing up for the Credit Transaction Safe Blocking Service along with support for recovering lost funds, and actively provide preventive education for older people, who account for a disproportionate share of the losses."
[email protected] Seo Ji-yoon Reporter