Community Chest of Korea provides 22.2 billion won in living-expense assistance to 7,827 voice-phishing victims

[Financial News] About 22.2 billion won in living expenses was provided to 7,827 voice-phishing victims over three years. By linking livelihood assistance with legal counseling, litigation support and psychological counseling, the program helped victims resume their daily lives after being targeted.
According to Community Chest of Korea on the 29th, the “Voice Phishing Zero” program was carried out from 2023 through this year with 30 billion won donated by Shinhan Bank. The program aims to address the economic, legal and psychological difficulties caused by financial fraud and to prevent crime.
In addition to living-expense assistance, 1,536 people accessed legal counseling, 184 received litigation support and 1,084 received professional psychological counseling. The program connected victims with support tailored to their circumstances.
The amount of voice-phishing losses reimbursed varies depending on factors such as the money remaining in accounts used for fraud. If the funds available for reimbursement are less than the victims’ total losses, they receive a share in proportion to their individual losses. Separate from reimbursement of the stolen funds, this program focused on using donations to help victims with their livelihoods and recovery.
According to a three-year study of the program’s social impact, 91.6% of those who used psychological counseling said it helped them overcome difficulties. Victims who accessed at least two types of support—living-expense, legal and psychological assistance—gave relatively more positive assessments of their satisfaction with the support and their perceived recovery than those who received just one type.
From the program’s planning stage, Community Chest of Korea established a collaborative framework with Shinhan Bank, Good Neighbors, the National Police Agency and the Financial Supervisory Service, among others. It combined financial institutions’ resources, the field expertise of private welfare organizations and the collaborative capacity of public institutions to address victims’ complex difficulties.
Community Chest of Korea Chairman Yoon Yeo-jun said, “We will identify social issues that existing welfare systems have not been able to address adequately and continue expanding support for neighbors in need.”
[email protected] Jang In-seo Reporter