Posted on
2024.10.09
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As an international student in Korea, you may encounter financial scams like voice phishing, especially in unfamiliar environments. Voice phishing is a type of phone or text message scam, and it can be extremely dangerous with severe financial consequences. Students, in particular, may be vulnerable to these scams, so it is important to stay vigilant.
Voice phishing refers to scams carried out via phone calls or text messages to steal personal information or money. Scammers often pretend to be officials from banks, the police, or government agencies to gain trust and trick victims into sharing sensitive financial information or making payments.
Voice phishing is not just about losing money—it can have devastating impacts on your financial stability and emotional well-being. Victims can suffer severe economic losses, and as an international student, financial constraints may make such losses even more damaging.
Voice phishing comes in several forms, and here are the most common types that international students should be aware of:
Not only can you be a victim of voice phishing, but if you follow instructions from scammers and participate in withdrawing or transferring money, you could be considered an accomplice . In South Korea, participating in voice phishing activities can lead to criminal charges, including fraud , which carries penalties such as imprisonment or fines .
For international students, participating in such activities can lead to severe consequences, including deportation or entry bans , which would significantly disrupt your studies and future plans. Therefore, it is crucial never to follow unknown instructions related to handling someone else's money.
How to Prevent Voice Phishing :
It is essential for international students to stay informed and cautious about voice phishing scams to protect themselves from financial harm.
How to Transfer Large Sums from a Limited Account! Are you using a limited account in Korea? If you need to transfer more than 1 million KRW for things like tuition or a housing deposit, there are a few important steps to follow. 📋 What to Know When Transferring Large Amounts Bring Supporting Documents If you need to transfer a large sum (over 1 million KRW), you’ll need to visit your bank branch with supporting documents such as an invoice or rental contract. Make sure to prepare these ahead of time to avoid delays. Daily Transfers as an Alternative If visiting the branch is inconvenient or if you're transferring something like rent, you can make multiple daily transfers by splitting the amount up to the daily transfer limit of 1 million KRW . This way, you can send the amount over several days! 💡 With this information, you can manage your limited account more effectively and transfer funds safely and conveniently!
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The K-Food Festival "Knock-Knock " is a culinary celebration focused on traditional Korean cuisine. Running from Wednesday to Sunday, from 4 PM to 9 PM, this vibrant festival offers an exciting opportunity to explore a variety of Korean dishes. At the festival, 15 food trucks will serve innovative dishes like Kimchi Bacon Cheese Pancakes, Walnut Cream Cheese with Dried Persimmons, Kimchi and Ssamjang Chicken Skewers, Crispy Chicken Gangjeong with Nurungji, and Pumpkin Sikhye. It promises a colorful culinary adventure for all visitors. In addition to the food, the festival will feature pop-up stores selling handmade crafts, interactive activities for visitors, and live performances on the weekend. Located near Gwanghwamun and Gyeongbokgung stations, this festival offers the perfect opportunity to experience the flavors and culture of Seoul in the heart of the city!😁 When ~May 31, 2025 Location 110, Sejong-daero, Jung-gu, Seoul, Republic of Korea Transportation Exit 4 of City Hall Station on Line 1 Website https://knock-knock.kr/2024/
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For international students opening a bank account in Korea, there are several essential documents you'll need to prepare. Additionally, if this is your first account, it may be classified as a limited account, so make sure to familiarize yourself with the restrictions that apply. 1. Documents Required to Open a Bank Account When opening a bank account in Korea as a foreign student, you'll typically need the following documents: Passport : A valid passport for identity verification. Alien Registration Card (ARC) : Required for those staying in Korea for more than 90 days. Proof of Address : A rental contract or utility bill to confirm your current address. Visa or Proof of Residence Status : Documents to prove that you are legally residing in Korea. Phone Number : A phone number registered in your name in Korea. Proof of Income : Some banks may request income-related documents such as a certificate of employment or salary slips. 🎈 If proving income in Korea is difficult, it is possible to open a limited account , which has transaction restrictions. 2. What is a Limited Account? When foreign nationals first open a bank account in Korea, it may be categorized as a limited account . This type of account places restrictions on withdrawals, transfers, and remittances. It is typically applied to foreign residents or accounts with low usage after being opened. Limited accounts are primarily used for the following reasons: To prevent money laundering and fraudulent transactions. To lift the restrictions, you must submit additional documents or follow the bank’s procedures. This usually includes providing proof of income, fixed residence documents, or other verification materials. It is recommended to inquire about the process for removing account limits and prepare the necessary documents after opening the account. 3. Typical Limitations at Major Banks While limits vary by bank, the following are common restrictions for limited accounts: Withdrawal Limit : Up to KRW 300,000 ~ 1,000,000 per day. Overseas Transfer Limit : Up to USD 5,000 per day and up to USD 15,000 per month. After account creation, you can provide additional documents or follow specific procedures to lift these restrictions. This information will help international students understand the necessary steps and documents required when opening a bank account in Korea, as well as the limitations that may apply.
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As an international student in Korea, you may encounter financial scams like voice phishing, especially in unfamiliar environments. Voice phishing is a type of phone or text message scam, and it can be extremely dangerous with severe financial consequences. Students, in particular, may be vulnerable to these scams, so it is important to stay vigilant. 1. What is Voice Phishing? Voice phishing refers to scams carried out via phone calls or text messages to steal personal information or money. Scammers often pretend to be officials from banks, the police, or government agencies to gain trust and trick victims into sharing sensitive financial information or making payments. Voice phishing is not just about losing money—it can have devastating impacts on your financial stability and emotional well-being. Victims can suffer severe economic losses, and as an international student, financial constraints may make such losses even more damaging. 2. Common Types of Voice Phishing Voice phishing comes in several forms, and here are the most common types that international students should be aware of: Impersonation of Government Agencies : Scammers pose as officials from the police, prosecution, or tax office, claiming that you are involved in criminal activity or owe unpaid taxes, demanding money. Bank Impersonation : The scammer pretends to be a bank employee, asking for personal details or bank account passwords. Once this information is provided, they can immediately withdraw money. Impersonation of Family or Friends : The scammer may pretend to be a close friend or family member, asking for financial help. This is especially common among international students who may not frequently contact their family. Job or Transaction Scams : Some scammers target students through job offers or sales platforms, tricking them into sending money as part of a fraudulent transaction. 3. Legal Consequences if You Participate in Voice Phishing Not only can you be a victim of voice phishing, but if you follow instructions from scammers and participate in withdrawing or transferring money, you could be considered an accomplice . In South Korea, participating in voice phishing activities can lead to criminal charges, including fraud , which carries penalties such as imprisonment or fines . For international students, participating in such activities can lead to severe consequences, including deportation or entry bans , which would significantly disrupt your studies and future plans. Therefore, it is crucial never to follow unknown instructions related to handling someone else's money. How to Prevent Voice Phishing : Be cautious of phone calls or messages from unknown numbers. Never share personal information over the phone. Police officers or bank officials will never ask for money over the phone. If you suspect anything suspicious, immediately contact your nearest police station or the relevant institution. It is essential for international students to stay informed and cautious about voice phishing scams to protect themselves from financial harm.
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