Police arrest two foreign couriers tied to TikTok investment scam
Two Uzbek nationals were detained after allegedly collecting 80 million won ($55,400) from victims in a TikTok-linked investment fraud tied to a multilayered criminal ring.
TikTok app logo is seen in this illustration taken on Aug. 22, 2022.REUTERS/YONHAP
Police arrested two Uzbek nationals accused of collecting money from victims of an investment scam and delivering it to a criminal organization. The suspects were referred to prosecutors while in detention on July 9, according to a JoongAng Ilbo report on Sunday.
The ring allegedly lured victims through TikTok livestreams, promising “returns of 600 to 1,000 percent” by investing in the Kosdaq-listed company Cenegenics before swindling victims out of a total of 80 million won ($55,400). The organization used foreign couriers to move cash through multiple layers, according to the Paju Police Station.
Victims were then directed to a Naver Band group chat, where they were persuaded to transfer 30 million won through bank transfers and other means.
The scam later escalated beyond online transactions.
"Your investment has generated profits, but you need to provide additional cash or gold to withdraw the earnings, " the group allegedly told one victim.
The organization then dispatched cash couriers to meet the victim in person and collect an additional 50 million won in cash.
Police discovered through field investigation that the couriers used rental cars when meeting victims. Investigators tracked the vehicles and arrested the suspects in Cheongju, North Chungcheong.
The Paju Police Station believes there may be additional victims and is continuing to pursue the alleged ringleader and other couriers based on the suspects' statements and communications records.
Police believe the organization deliberately structured the collection process in multiple stages. For example, one courier would collect cash directly from a victim before passing it to a second courier, which makes it more difficult for investigators to trace the chain back to those directing the operation.
The logo of the Korean National Police AgencyNEWS1
Foreign cash couriers typically enter Korea on short-term tourist visas, which makes it difficult for authorities to secure them in custody once the couriers leave the country or if their visas expire.
Police believe the suspects knowingly exploited that loophole.
Authorities uncovered a similar operation in June, when 26 Vietnamese nationals were caught laundering or transferring 8.5 billion won in proceeds from voice phishing and investment scam rings overseas.
Most of the suspects were marriage migrants or international students who allegedly received criminal proceeds in bank accounts under their own names before transferring the money to third-party accounts. The suspects reportedly concealed the funds through 905 transactions, in violation of the Act on Regulation and Punishment of Criminal Proceeds Concealment.
"Foreign cash couriers are increasingly being recruited for investment scams and other crimes," a police official said. "We are conducting further investigations to identify those directing these organizations and will respond swiftly if reports of similar crimes are received."
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
