Scammers Impersonating Bank of Korea and Shinhan Financial Group Target Investors

Investment scammers are using fake accounts on social media to impersonate prominent figures, including Bank of Korea Governor Shin Hyun-song. These fake profiles lured retail investors into unauthorized investment chat rooms by discussing economic trends and investment information. A separate fake account targeting investors also impersonated Shinhan Financial Group Chairman Jin Ok-dong. The Bank of Korea requested the platform operator remove the fake account, which was subsequently suspended.

The incidents demonstrate how sophisticated financial institutions can be targeted by organized fraud rings. The scammers were using the officials' names, photos, and career histories to lend legitimacy to the fraudulent investment pitches. This activity operates outside of current investment advisory regulations, which require businesses to be legally registered.