Fake Brokerage Site Nets 360 Million Won; Six Kazakh and Libyan Nationals Booked in Busan Over Scheme to Launder Funds by Smuggling Imported Cars to Kazakhstan
This article organizes publicly available information into a single account. Where it describes an arrest or an ongoing investigation, that reflects only one stage of criminal procedure and does not mean guilt has been established (the presumption of innocence applies). We will update this article as new information becomes available, including the outcome of prosecution, non-prosecution, or trial. This article is not intended to unfairly disparage any individual, group, nationality, ethnicity, or belief, and aims to provide objective, fact-based information.
Busan Metropolitan Police Agency in South Korea announced by October 22, 2026 that it had booked six people — three Kazakh nationals and three Libyan nationals — on suspicion of fraud and violations of the Act on Regulation of Concealment of Criminal Proceeds and the Act on Special Cases Concerning the Refund of Telecommunications Fraud Damages, detaining five of them. According to Financial News, the group allegedly created a fake securities-company website around June 2026 and defrauded seven victims of a combined 360 million won, roughly 39 million yen.
The group then allegedly used those funds to buy six imported cars and smuggle them out to Kazakhstan, disguising the stolen money as proceeds from vehicle exports in order to launder it. Investigators found the organization divided roles among a manager at its center, a recruiter, two people handling used-car contracts, and a remitter. Working with Incheon Customs, police seized four vehicles worth about 300 million won that were awaiting export. Police plan to share information with Kazakh authorities and pursue a joint international investigation, and said they would hand the four seized vehicles to prosecutors for public auction so the proceeds can be returned to victims.
Current status: The whereabouts of the two remaining vehicles among the six purchased, the progress of returning funds to victims, and the outlook for international cooperation remain unclear as of this writing. Police warned that investment "leading" scams promoted through YouTube and other social media continue to claim victims, saying people can fall into a trap the moment they click an advertisement and should report anything suspicious immediately. This article will be updated as further details emerge.
In South Korea, the government released one-year results for its transnational crime response in October 2026, including 834 arrests in Southeast Asia. Related article
Editorial Perspective
No decision on indictment has been made at this stage, so this article reflects information from the investigative phase. An arrest is only one step in criminal procedure and does not establish guilt (the presumption of innocence). According to National Police Agency and Ministry of Justice statistics, the number of Penal Code cases involving foreign nationals visiting Japan has risen for two consecutive years since 2023, but remains below its mid-2000s peak (related article). A single case does not necessarily reflect the broader statistical trend; further developments are worth watching.