Sent Money to a Voice Phishing Scammer? Ask for a Payment Freeze First -- Relief Application in 3 Business Days, 2-Month Notice, Refund Decision in 14 Days, and Virtual Assets Covered From October
If you realize you sent money to a stranger on the phone, the first thing you need is to win the race against time. Money sent to a scammer's account is moved onward quickly, so the later a payment freeze is requested, the less can be returned. Under the Special Act on Preventing Telecommunications-Based Financial Fraud and Refunding Stolen Money, this post explains what to do right after the loss and in what order, when the paperwork is due and when the money comes back. It also covers the amendment on virtual assets that is scheduled to take effect this October.
The first thing to do once you notice is to ask for a payment freeze
Call the customer center of the bank or securities firm you sent money from and ask them to freeze payments on the fraud account. You can also report to the police (112) or the Financial Supervisory Service (1332), but speaking directly to the financial company is the fastest route. The law has financial companies freeze payments on accounts suspected of being used for fraud once they receive a relief application or a freeze request. Open your transfer history first so you can state the time, amount and receiving account number right away. If you installed an unknown app or tapped a link, say so, and jot down the account number you were given during the call and the number the scammer used. The company acts on what you tell them, so the more specific you are, the faster it is handled.
If you applied by phone, the documents are due within 3 days
As a rule, you submit a victim relief application form with a copy of your ID to the financial company. In urgent or unavoidable cases you can apply first by phone or orally, and the Easy Law information service says the form must then be submitted within 3 days of applying. The National Police Agency's cyber safety guidance gives this deadline as within 3 business days, so it is easy to get confused when a weekend falls in between. To be safe, go to the police station on the same day you ask for the freeze, and confirm the exact deadline with your financial company. The form is available at the branch counter and on the company's website, and if the police certificate looks like it will be delayed, apply by phone first and ask the agent when you can still submit the documents.
Get the incident certificate from the police station
The required documents are the relief application form, a copy of your ID and the incident confirmation certificate issued by the police. Visit the police station in charge that has a cyber investigation team and give a statement, and they will issue it. Take screenshots of conversations, texts, call logs and transfer records. You apply to the financial company that manages the account you sent money from or the one that manages the fraud account; in practice, applying to the company you sent from is enough. Note that a false relief application is punishable by up to 3 years in prison or a fine of up to 30 million won. Cases that do not meet the law's conditions, such as a direct second-hand trade scam or hacking, may fall outside relief.
Next comes the two-month claim extinguishment notice
The money left in a frozen fraud account is not returned immediately but goes through the claim extinguishment procedure. The Financial Supervisory Service posts the start notice on its website for two months, and if the account holder does not object during that period, the claim is extinguished. For how objections are handled, see the post on objecting when your bank account is frozen after a voice phishing report, which explains it from the account holder's side. If you could not apply for relief during the notice period, the Easy Law service says you can still apply within two months after it ends. During this process, seizing or provisionally attaching the claim on the fraud account is prohibited.
The refund is decided within 14 days of extinguishment and may not be the full amount
The Financial Supervisory Service decides the refund amount within 14 days of the claim being extinguished, and the financial company then pays the victim. The police agency's guidance says the actual deposit usually takes 2 to 3 days. In total, it is a schedule of well over two months from report to refund. The key point is that a refund is possible only within the balance remaining in the fraud account. If the scammer already withdrew the money, the amount returned may be smaller or zero, and if several victims share the account, the balance is divided in proportion to each loss. That is why a freeze in the first few hours decides the result.
Amended law: from October, virtual asset exchanges take on the same duties
According to the Financial Services Commission, the amendment to the telecommunications fraud refund act passed the National Assembly plenary session on March 12, 2026. Its core is bringing virtual asset exchanges into the same voice phishing prevention and relief system as banks and securities firms. Exchanges must also confirm the purpose of transactions, monitor suspicious funds continuously, freeze accounts when suspicious and support the refund process. The assets covered widen from cash to virtual assets, and if the victim wishes, the exchange gains a basis to sell the assets and pay out cash. Enforcement is planned for October 2026, six months after promulgation, and details will be set in subordinate regulations, so if a virtual asset is involved in your case, confirm whether it is in force and the procedure with guidance from the Financial Services Commission or the Financial Supervisory Service.
To prevent the next loss, follow through with identity checks and number reports
The scammer may hold your personal information, so alongside the refund process it is wise to check that no other phone line or loan has been opened in your name. Check lines with M-Safer subscription lookup and subscription restriction, and loans with the loan-block service and the bulk account lookup. Report the scammer's number after reading how reports to 112 and 118 are handled differently.
What to do today, in order
First, open your transfer history, note the time, amount and receiving account, and call the financial company you sent from to request a payment freeze. Second, report to 112 or the police station in charge and get the incident certificate. Third, submit the relief application, a copy of your ID and the certificate to the financial company, and remember the deadline of 3 days (3 business days in the police guidance) if you applied by phone. Fourth, after the two-month notice and the 14-day decision, check with the financial company that the refund has been deposited. This post is general information and results differ by case. Please confirm exact deadlines and eligibility with your financial company, the Financial Supervisory Service and the police.
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