On the 19th, the Gyeongnam Provincial Police Agency announced on the 19th that it will be conducting “intensive crackdown on public financial crimes such as pseudo-receiving of virtual box mountains” by the end of the year.
Recently, it is known that illegal multi-level and door-to-door sellers across the country are engaged in similar reception (principal guarantee) and fraud (profit rate hype) under the guise of investing in virtual assets. Accordingly, the Gyeongnam Provincial Office will pretend to be a virtual asset investment briefing session to prevent various criminal activities such as similar reception and fraud.
The Gyeongnam Provincial Office has organized one team in the anti-corruption economic crime investigation team of the Metropolitan Investigation Unit into a dedicated investigation team, and utilizes expert investigators from the intelligence team of the front line police station.
The main targets of crackdown are ΔFinancial fraud such as virtual asset (illegal similar reception and multi-stage), ΔIllegal finance (illegal loan business, bond collection) ΔStock reading room (illegal investment advisory business, etc.) ΔIllegal box industry (unreported).
In addition, as the virtual asset market overheats, investment briefing sessions are held in the form of indoor lectures and small-scale meetings, and there are concerns about violations of the COVID-19 quarantine guidelines. Accordingly, it plans to establish a smooth cooperation system with related organizations such as the quarantine authorities and local governments to implement joint enforcement if necessary.
An official from the Gyeongnam Provincial Office said, “We will strictly crack down on organized crimes according to laws and principles while investigating organized crimes to eradicate public financial crimes.” “The victims should actively report them to the police.”
