Program launched with 30 billion won donation from Shinhan Bank
Voice Phishing Zero initiative delivers integrated victim support
Legal aid and psychological counseling extended beyond refunds
Satisfaction rate for mental health support reaches 91.6%
A total of 22.2 billion won ($16.8 million) in living expenses has been provided to 7,827 voice phishing victims facing immediate financial hardship — a shift in the approach to fraud response, moving away from simple refund procedures toward sustaining victims' daily lives and securing their basic livelihoods.
The Community Chest of Korea announced Thursday that, through its Voice Phishing Zero project carried out in partnership with Shinhan Bank, it provided approximately 22.2 billion won in living expenses to 7,827 voice phishing victims over three years and established a victim-centered integrated support system linking legal and psychological services.
Voice Phishing Zero ran from 2023 to 2026, funded by a 30 billion won donation from Shinhan Bank. The Community Chest of Korea worked with Shinhan Bank, Good Neighbors, the Korean National Police Agency and the Financial Supervisory Service to address the complex crises facing victims.
The project expanded the scope of support beyond the conventional focus on prevention and refunds to cover livelihood crises, psychological distress and legal issues.
Over the course of the project, the Community Chest of Korea provided approximately 22.2 billion won in living expenses to 7,827 victims. It also supported 1,536 people with legal consultations, 184 with litigation assistance and 1,084 with professional psychological counseling, helping victims pursue legal remedies and recover emotionally.
A three-year social impact study found that 91.6 percent of those who used the psychological counseling services said they had been helped. Victims who used two or more of the three support types — living expenses, legal aid and psychological counseling — reported a stronger sense of recovery than those who used only one.
The Community Chest of Korea built a public-private partnership model combining financial institution funding, the expertise of private welfare organizations and cooperation from public institutions. The initiative laid the groundwork for addressing financial fraud victims, a group that had previously fallen through the cracks of the welfare system.
Yoon Yeo-jun, chairman of the Community Chest of Korea, said Voice Phishing Zero was significant because it treated financial fraud not as a purely personal problem but as one requiring a collaborative response built from the outset between the private and public sectors. "The Community Chest of Korea will continue to connect the resources and expertise of diverse organizations to identify social problems that existing welfare systems have not adequately addressed and expand support for neighbors in need," Yoon said.
terry@heraldcorp.com
