Credit card cashing fraud, this is how the money flows
Based on a condo membership impersonation case (Mr. E) — two people are caught in a single payment
Fraudster
Impersonation of membership confirmation
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Victim Mr. E
Provide card number and expiration date via phone
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Innocent restaurant
Need sales performance, process payment on behalf
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Card company
Pay settlement amount to restaurant
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Fraudster
Request re-deposit of settlement amount
Damage of 6 million won · Secondary victim is a small business owner
Cardholder approves directly, merchant also processes normal payment under their own name — that's why the system cannot detect it as an abnormal transaction