Financial losses from phishing scams have nearly doubled year-on-year, reaching an all-time high.

The National Office of Investigation under the National Police Agency reported Sunday that total financial damage from phishing crimes amounted to a record 799-point-two billion won in the first seven months of the year, an increase of 95 percent compared to the same period last year.

Police data show 16-thousand-561 cases of voice phishing and smishing were reported between January and July, marking a 14 percent rise from the previous year.

In response, authorities will launch a five-month nationwide crackdown on phishing scams starting Monday, as part of a broader government initiative to combat the growing threat.

Officials also urged the public to report suspicious activity, noting that the reward for whistleblowers has been significantly increased to as much as 500 million won.