Recently, there have been repeated incidents on social networking services (SNS) where accounts impersonating well-known figures such as Hyun-Song Shin, Governor of the Bank of Korea, are used to solicit investments, prompting the need for caution.

There is an account impersonating Shin Hyun-song, Governor of the Bank of Korea, on social networking service (SNS). Thread capture

There is an account impersonating Shin Hyun-song, Governor of the Bank of Korea, on social networking service (SNS). Thread capture

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On September 22 and 23, accounts impersonating Governor Shin appeared on SNS, posting multiple messages claiming to help users read economic trends. These accounts encouraged users to join group chat rooms by asking them to add as friends or send messages, suggesting there was a 'study group.'


Once in the chat room, according to the instructions provided, the impersonators would solicit personal information with promises such as 'providing stocks with double-digit returns,' and sometimes recommended specific stocks to invest in.


Opening interactive channels that offer one-on-one investment advice or real-time conversations with participants is only allowed for officially registered investment advisors. However, these impersonators operated without any legitimate company names or credentials.


The Bank of Korea plans to continuously monitor for impersonating accounts and take action as soon as they are detected.



Meanwhile, not only Governor Shin but also other prominent figures in the financial industry, celebrities, and 'finfluencers' (financial influencers) are consistently being impersonated on SNS. According to data submitted to Assemblyman Iljun Seo of the People Power Party by the Financial Supervisory Service, there were 6,769 phishing cases involving investment scams in the first quarter of this year, with total damages amounting to 181.7 billion won.


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