Seoul: The financial watchdog said Monday it will intensify cooperation with the police and other government agencies to crack down on rising phishing crimes.
According to Yonhap News Agency, damages from phishing scams have been on a steady rise, reaching 61 billion won (US$42 million) in December from 45.3 billion won in October and 24.9 billion won the previous month, despite growing awareness of the crime.
Phishing is a type of crime where victims are conned into transferring money to scammers or sharing their personal information, thus allowing fraudsters to access their bank accounts.