Phishing damages totaled 196.5 billion won (147.5 million U.S. dollars) in 2023, up 35.4 percent compared with the previous year, according to the Financial Supervisory Service (FSS).
The number of victims to the scams dwindled 10.2 percent to 11,503 in 2023, but the damages soared to 17.1 million won (12,840 dollars) per person on average last year from 11.3 million won (8,480 dollars) in the prior year.
Of the total damages, 65.2 billion won (48.9 million dollars), or 33.2 percent, were recovered for victims.
Phishing refers to a scam where victims are duped into transferring money to scammers or sharing personal financial information via text messages, phone calls or emails to allow fraudsters to access bank accounts.
Those in their 50s or older were found to be the most vulnerable to phishing scams, with their damages amounting to 126.4 billion won (94.9 million dollars), or 65.4 percent of the total.
Damages to young people rose sharply last year, with the damages amount for those in their 30s or younger jumping by 27.4 billion won (20.6 million dollars) in 2023 from a year earlier.
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