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By Bang Bo-kyung and Kim Hyun-jae, Edaily — A person in his 60s, identified as A, recently handed over nearly KRW 100 million worth of checks to a voice phishing ring. After realizing that it was a phishing crime, A reported the damage to the police and even requested that the bank suspend payment, but was unable to recover the funds.

(Omitted)

Chon Hyeong Hwan, Managing Partner at Mega-X Law Office, explained, “If the check subsequently passed through several people, the holder may have received the money in exchange for a legitimate right.”

He added, “Checks have the characteristic of being used like cash. If the transaction were later canceled, it could infringe upon the rights of a third party.”

(Rest omitted)

Source: Edaily, Reporter Bang Bo-kyung, “Checks in a ‘Phishing Blind Spot’… No Way to Recover the Money Even After Reporting,” May 19, 2025.
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