On Dec. 16, the Seoul police department reported that two Koreans were
arrested in China as suspects of the fraud. Park, 27, and his accomplice used a
cyber virus to obtain victims’ information, which they used to withdraw money
from their bank accounts. They are being charged for breaching information
technology network laws. Since late last year, an increasing number of similar
frauds have been reported, but this is the first time that actual arrests were
made.

Police said Park and others stole over 440 million won between March 2008 and
June 2009. The money was stolen from 86 accounts in 32 financial institutions,
including banks, insurance companies and investment firms. They targeted victims
like Kim, who stored bank security card information in their e-mail accounts or
on their PCs. Park, who is currently being held in China’s Yanji prison, said
there would not have been a way to withdraw money had the victims not stored
their private information online.

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