Gyeonggi-do Detects 62 Cases of 'Local Currency Fraudulent Circulation'

The photo is not related to the article content [Gyeonggi-do]

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[Asia Economy Reporter Ra Young-cheol] Gyeonggi Province announced on the 25th that it conducted a comprehensive crackdown on fraudulent circulation of local currency during the first half of the year (March 16 to April 7) targeting local currency affiliated stores in 31 cities and counties within the province, resulting in a total of 62 cases being detected and penalized.

During the crackdown period, 32 cases were reported through the Resident Reporting Center, 290 cases were discovered by the cities and counties themselves, and 657 suspicious cases were identified through the abnormal transaction prevention system.

After verifying the suspicious cases, 62 violations were detected. Among them, fraudulent receipt and illegal exchange accounted for the largest number with 17 cases (8 paper-type, 7 mobile-type, 2 card-type), followed by payment refusal with 15 cases (7 mobile-type, 6 card-type, 2 paper-type).

Of the 62 violation cases, 18 cases including fraudulent receipt had their affiliated store registrations canceled according to relevant laws, while 42 cases with minor violations were given on-site guidance.

Two cases suspected of illegal exchange are currently under additional document submission requests, and depending on the severity of future violations, affiliated store cancellations or investigations by the local police station will be pursued.

In particular, since paper-type local currency had many violations related to fraudulent receipt and illegal exchange, and mobile-type had many cases of payment refusal, these areas will be the focus of investigation.

Kim Sang-su, Director of the Regional Finance Division, stated, "We will thoroughly crack down on and penalize affiliated stores that take unfair profits by abusing local currency."

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