Gyeonggi Province Collects 117 Million Won from Tax Delinquents Concealing Assets with Cashier's Checks

The Gyeonggi Provincial Government investigated 30 high-value local tax delinquents, each owing more than 10 million won, who were suspected of concealing assets using cashier's checks, and collected 117 million won in overdue taxes.

The Gyeonggi Provincial Government launched this investigation after noting an increase in cases where delinquents convert bank deposits or cash into cashier's checks to evade tracking and hide assets. Cashier's checks are guaranteed by the issuing bank, can be immediately converted into cash, and are difficult to trace to the owner, making them highly susceptible to intentional concealment.

The Gyeonggi Provincial Government focused on tracking cases where delinquents directly possessed cashier's checks or concealed them under the names of family members or third parties. In instances involving intentional avoidance of contact, false address registration, or sham divorces, indirect investigations through on-site visits were also conducted.

Gyeonggi Provincial Government

The Gyeonggi Provincial Government currently operates a dedicated team of two for investigating violations. Tax officials, appointed by the chief prosecutor of the local district prosecutor's office, can directly interrogate delinquents or conduct searches and seizures. If illegal activities are uncovered, follow-up actions such as administrative penalty notices or referrals to investigative agencies are taken.

An administrative penalty notice is a procedure that allows an administrative authority to order payment of a fine or penalty equivalent amount without criminal proceedings. It is used as an administrative sanction in violation cases related to taxation, customs, immigration control, and road traffic.

No Seungho, Director of the Tax Justice Division at the Gyeonggi Provincial Government, stated, "We will respond firmly to sophisticated concealment activities using financial instruments such as cashier's checks," and added, "We will strengthen violation investigations to ensure fairness in local tax collection and realize tax justice."

This content was produced with the assistance of AI translation services.