Governor of the Bank of Korea Impersonated: Fake Social Media Accounts Lure Users Into Investment Groups

TechFlow reports on September 26 that, according to Yonhap News Agency, fake accounts impersonating Bank of Korea Governor Lee Chong-yong (이창용) have surfaced on social media. Under the guise of “helping understand economic trends” and “study groups,” these accounts lured users into investment circles. Between September 22 and 23, the account published multiple posts detailing Lee’s professional background. While it avoided direct public investment advice, it redirected users who accepted friend requests or sent direct messages to join so-called “study groups,” ultimately funneling them into group chats.

The Bank of Korea subsequently requested social media platforms to remove the account, which was suspended within hours; nevertheless, hundreds had already joined affiliated “investment signal groups” that remain active on Telegram. Moreover, besides Lee, prominent figures in South Korea’s financial industry, top executives of major corporations, and entertainers have increasingly been impersonated to promote investment fraud schemes. Targets include SK Group Chairman Choi Tae-won, LG Group Chairman Joo Kwang-mok, and Samsung Electronics Chairman Lee Jae-yong. Some fraudulent ads have also employed AI-generated deepfake videos to replicate voices, speech patterns, and facial expressions.