5.7 billion won fraud discovered at three banks, linked to rental property deposit fraud (South Korea)

KB Kookmin Bank announced on the 7th that a fraud case had occurred. The incident occurred between May 12, 2023 and November 1, 2024, and the damage amounted to 2.2214 billion yen.
The amount of fraud is about 232.79 million won (about 232.79 million yen). On the same day, Shinhan Bank and SC First Bank also announced the occurrence of fraud cases. The period of the damage at Shinhan Bank was from April 22, 2021 to April 30, 2024.
The damage amounted to 1.98 billion won (approximately 200 million yen) over a period of about three years. The SC First Bank incident occurred between October 23, 2023 and October 2, 2024, and the damage amounted to 1.4679 billion yen (
The amount was about 153.73 million yen. The fraud cases are said to be related to a large-scale jeonse (a rental method in which a large amount of security deposit is deposited all at once) fraud that occurred in Sejong City.
The fraudster appears to have used the names of the tenants to illegally borrow money from banks. The overall scale of the fraud is expected to grow in the future.
Both banks plan to seek police investigations to determine the exact circumstances and scale of the damage.
We also need to hurry to make a decision.