How a 20-Something Woman Tricked Gold Shops in Busan: The 'Depositor Name Scam' That Shocked Korea

The Unbelievable Scam: How It Worked

Did you know that in June 2025, a young woman in Busan pulled off a scam that left gold shop owners stunned? She went from shop to shop, claiming to pay for expensive jewelry via bank transfer. But here’s the twist: instead of actually sending the full amount, she wrote the payment amount—like '5,300,000 KRW'—in the depositor name field, while only transferring a tiny sum, sometimes as little as 100 KRW. This trick confused shop owners, who often checked only the deposit name and not the real amount, letting her walk away with gold necklaces and more worth over 12 million KRW.
Her scheme targeted at least three gold shops in Busan’s Jin-gu and Dong-gu districts. The owners, trusting the bank transfer notification, handed over the jewelry, only to realize later that the actual money received was nowhere near the price. The police investigation revealed that this method had never been seen before in the region, sparking widespread concern among local businesses.

Police Investigation and the Arrest

Once shop owners noticed the discrepancy, they quickly reported it to the police. The Busanjin Police Department launched a thorough investigation, analyzing CCTV footage and tracking the suspect’s movements. Thanks to their efforts, the woman was arrested and later sent to the prosecutor’s office, facing charges of fraud. The police emphasized that similar scams are becoming more common, especially as digital banking and instant transfers become the norm in Korea. They urged all business owners to double-check the actual deposit amount before handing over goods, warning that relying on the depositor name alone is a dangerous mistake.
According to official statements, the suspect managed to deceive three different shops over just two days, highlighting how quickly such crimes can escalate if not caught early.

Community Buzz: Outrage and Lessons Learned

Korean online communities like Theqoo, Nate Pann, Instiz, Naver, Daum, DC Inside, FM Korea, and PGR21 exploded with reactions. Many users expressed shock at how simple yet effective the scam was, with comments like 'I can’t believe people still trust just the deposit name!' and 'This is why you always check the actual balance.' Some blamed the shop owners for being careless, while others pointed out that in a busy retail environment, it’s easy to make such mistakes.
There were also positive reactions, praising the police for their quick work and warning others to stay vigilant. A few users shared their own experiences with similar scams, creating a lively debate about financial safety in Korea’s fast-paced retail scene.

Cultural Context: Why Did This Happen in Korea?

To understand why this scam worked, you need to know a bit about Korean shopping culture. In Korea, bank transfers are a very common way to pay for everything from rent to luxury goods. Many small business owners rely on quick notifications from their banking apps, which display the depositor’s name and a brief message. In the rush of daily business, it’s not uncommon for shopkeepers to glance at the notification and assume the payment is correct—especially if the depositor name matches the agreed amount.
This trust, combined with the speed of transactions and the pressure to serve customers quickly, creates opportunities for clever scammers. The incident has sparked a national conversation about updating payment verification practices and educating business owners about new types of fraud.

Media Coverage and Blog Insights

Major Korean news outlets like Yonhap, Chosun Ilbo, SBS, Newsis, and Daum covered the story extensively, warning that similar scams could happen anywhere. Blog posts on Naver and Tistory analyzed the incident, offering advice to shop owners and discussing the psychological tricks behind the scam. Bloggers emphasized the importance of not just trusting notifications but always confirming the actual deposit in the account.
Some bloggers also discussed the emotional impact on the victims, noting that many small business owners feel betrayed and anxious after such incidents. The case has become a hot topic in forums and on social media, with hashtags like #금은방사기 (gold shop scam) and #입금자명사기 (depositor name scam) trending among Korean netizens.

What Foreign Fans and Expats Should Know

If you’re living in Korea or planning to visit, this case is a good reminder of the unique aspects of Korean financial culture. Bank transfers are fast and convenient, but they also require vigilance. Always double-check the actual amount received, whether you’re selling something online or running a shop. This scam also highlights how quickly new fraud tactics can spread in a tech-savvy country like Korea.
For international fans of Korean culture, it’s interesting to see how the community comes together online to share warnings, tips, and even humor in the face of adversity. The rapid response from both the police and the public shows the strength of Korea’s digital society—and the ongoing battle between scammers and everyday people.

How to Protect Yourself: Tips for Safe Transactions

To avoid falling victim to similar scams, experts and police recommend the following:
- Always check the actual deposit amount in your bank account, not just the notification or depositor name.
- Be cautious with large transactions and ask for proof of payment.
- Set up alerts for incoming transfers and verify details before handing over goods.
- Educate staff and family members about common fraud tactics.
By staying alert and informed, you can help prevent financial crime and keep your business—and your money—safe.

Final Thoughts: The Ongoing Fight Against Fraud

This incident has sparked renewed calls for better education and stronger verification systems in Korean retail. As scams become more sophisticated, both businesses and consumers must adapt. The 'depositor name scam' may seem simple, but it’s a powerful reminder that trust and technology must go hand in hand. Stay smart, stay safe, and always double-check before you trust a transfer!