Simpyeong Law Firm · Financial Crime
Frozen Korean bank accounts, voice phishing, crypto and stock “leading room” scams, romance scams and rental deposit fraud. We act for victims trying to recover money and for account holders who were frozen or questioned, starting from the transaction records.
Time is the biggest factor once money has left your account. We freeze what remains, then combine criminal complaints, compensation orders, asset freezes and civil claims to widen the routes to recovery.
Legitimate payments get frozen, and people who thought they had a part-time job or a loan offer end up suspected of taking part. We build the record of what you knew and what you did not.
01CASE TYPES
Each case follows a different money trail and calls for different procedures.
Your account was frozen after fraud proceeds were paid into it. An objection must be filed within the deadline.
Handing over a bankbook, debit card, OTP or certificate, even for a promised loan or job, can be a crime in Korea.
Buying gift cards, exchanging USDT or sending crypto with someone else’s money can be treated as laundering crime proceeds.
Victims should freeze the receiving account at once. Couriers and withdrawal agents face heavy penalties.
Free “investment rooms” leading to fake exchanges or apps that block withdrawals and demand more fees.
Guaranteed high returns from gold, art, crypto or business investments that pay old investors with new money.
Contacts made on social media or dating apps that turn into investment or money requests.
Deposits not returned by landlords with many tenants. Criminal complaint and victim support run side by side.
02FIRST STEPS
The first hours and days decide how much money and evidence remain.
Call your bank or 112 and ask for a payment stop on the account you sent money to. Note the account number, time and amount.
If your account was frozen, do not send the money back or elsewhere on your own. Collect proof of why the money was paid to you.
Save chats, job ads, app screens, transfer receipts and wallet addresses. Do not delete conversations, even with the other party.
Check the case number and allegation first. What you say in the first interview often frames the whole case.
We reconstruct the money flow in time order and advise on refund, objection, complaint, asset freeze or defence.
03DEADLINES
Once a deadline passes, relief may no longer be available.
Deadline for the account holder’s objection
Telecom Fraud Refund Act Art. 7, 9Refund amount decided and paid to victims
Telecom Fraud Refund Act Art. 10Limitation period for damages claims
Civil Act Art. 766(1)For crimes punishable by up to 10 years
Criminal Procedure Act Art. 24904FOREIGN RESIDENTS
Many of these cases involve foreign nationals living, working or studying in Korea.
Handing your Korean bankbook, debit card or banking app to someone else, including when leaving Korea, can be punished under the Electronic Financial Transactions Act.
A fine or sentence can have consequences for visa status. Get legal advice before police questioning, not after.
You may ask for interpretation during police questioning. Read the record carefully before signing it.
Freeze requests, complaints and civil claims can be prepared through a lawyer in Korea with documents and remote meetings.
05FAQ
A victim or the authorities reported that fraud proceeds were paid into your account. The account holder can file an objection with the bank before the deadline, with documents showing the money was received for a legitimate reason.
Possibly. Handing over or lending an account in Korea can be a crime even without knowing it would be used for fraud, depending on whether you received or were promised something in return. Keep all messages and get advice before questioning.
If the receiving account is frozen quickly, the remaining balance can be refunded to victims through the bank. Any shortfall may be pursued through a criminal complaint, a compensation order or civil claims.
Since 1 October 2026, crypto assets are covered by the freeze and refund procedure for telecommunications fraud. Whether it applies to your case depends on how the fraud was carried out and where the assets went.
Be very careful. Upfront fees for “recovery services” are a common second scam. Lawyers in Korea can represent you in legal procedures, but no one can guarantee recovery.
Yes. Send your message in your language. We review it and contact you to arrange the consultation, with interpretation where needed.
06 · Consultation
Leave your contact details and a short description. Our financial crime lawyers review it and get back to you. Your information is used only to review your case.
