Jeonbuk Police to Conduct Special Crackdown on 'Illegal Receipt of Government Subsidies' Until Year-End
Focusing on Four Major Corruptions... Whistleblower Rewards Up to 100 Million Won
The Jeonbuk Provincial Police Agency (Chief Kang Hwang-su) announced on the 22nd that it will conduct a nationwide special crackdown on fraudulent receipt of government subsidies for 196 days until the end of this year.
Government subsidies account for 16% of the total budget of 639 trillion won due to the expansion of government financial projects. This year, 5,653 projects amounting to 102.3 trillion won are involved. Subsidy fraud is a fraudulent act against taxpayers and a crime that harms the national economy. Recently, management has been strengthened through audits by each ministry. Accordingly, the police have launched a strong crackdown to protect the national economy.
Jeonbuk Provincial Police Agency building. [Photo by Jeonbuk Provincial Police Agency]
View original imageTo this end, the Jeonbuk Provincial Police Agency has formed a "Government Subsidy Fraud Eradication T/F" led by the head of the provincial investigation department, and operates dedicated investigation teams in the Anti-Corruption Economic Crime Investigation Unit and each police station.
In particular, the crackdown will focus on the four major types of subsidy fraud. The targets of the crackdown are ▲fraud and embezzlement through false subsidy applications, ▲providing preferential treatment related to subsidy-supported projects, ▲collusion corruption involving subsidy officials, and ▲use of subsidies for purposes other than intended.
Since subsidy fraud was classified as a crime subject to asset preservation under the amended Act on the Regulation of Concealment of Criminal Proceeds early last year, the criminal proceeds from fraudulent receipt of government subsidies will be thoroughly tracked and confiscated or recovered.
Also, since subsidies are operated diversely by sector and region, including social welfare, agriculture, forestry and fisheries, culture and tourism, education, health, and environment, a close cooperative system will be established with related ministries. While strengthening intelligence collection on subsidy fraud, a reporting system will be activated with rewards of up to 100 million won for whistleblowers.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
A representative of the Jeonbuk Provincial Police Agency said, "Through this special crackdown, we will strictly punish subsidy fraud, prevent leakage of national finances, and create awareness that criminal proceeds will definitely be confiscated," urging active reporting and tips.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.