Act on Aggravated Punishment of Specific Economic Crimes

If the charge under the Act on Aggravated Punishment of Specific Economic Crimes applies, identifying the scale of the gains obtained from the crime becomes the most important issue.

The crimes to which the Act on Aggravated Punishment of Specific Economic Crimes applies are as follows.

Fraud is a commonly encountered crime, but the crime of fraud subject to the Act on Aggravated Punishment of Specific Economic Crimes is by no means a minor or commonly encountered matter.

In the case of fraud under the Act on Aggravated Punishment of Specific Economic Crimes, there are significant differences not only in the level of punishment but also in the investigative authority that handles and investigates the case and in the composition of the panel that handles the trial.

If a charge of violating the Act on Aggravated Punishment of Specific Economic Crimes applies, an actual custodial sentence may be imposed even where a settlement with the victim is reached, so effort should be devoted to submitting materials for consideration in sentencing, and an active response at the early investigation stage is important.

Certain property crimes, such as fraud and fraud by use of a computer, are included among the subjects of aggravated punishment.

Article 3 of the Act on Aggravated Punishment of Specific Economic Crimes

The crime of overseas flight of property refers to a crime in which, in violation of statutes, the property of the Republic of Korea or of a Korean national is moved overseas, or property that should be brought into the country is concealed or disposed of and hidden overseas.

An attempt may also be punished by the penalty corresponding to each crime.

If the amount of property flight is 500 million won or more, aggravated punishment is imposed according to the following classification.

In any of the following cases, a person may, under Article 5 of the Act on Aggravated Punishment of Specific Economic Crimes, be subject to imprisonment of up to 5 years or suspension of qualification for up to 10 years.

If the value of the money, goods, or other benefits received, demanded, or promised is 30 million won or more, aggravated punishment is imposed according to the following classification.

Ulsan District Court, Judgment of November 26, 2021, 2020 Gohap 183

If you have been contacted by an investigative agency on suspicion of a violation of the Act on Aggravated Punishment of Specific Economic Crimes, or are about to undergo an investigation, your statements can directly affect not only the level of punishment but also whether you are indicted and the outcome of the trial, so advance preparation is crucial.

You should first organize the following matters.

Under the Act on Aggravated Punishment of Specific Economic Crimes, aggravated punishment applies when the amount of the crime exceeds a certain threshold (for example, 500 million won in the case of fraud, and 500 million won or more for embezzlement and breach of trust), and in some amount ranges a statutory minimum sentence is set, so there are cases in which a fine cannot be chosen.

Therefore, rather than acknowledging the entire alleged amount or confessing unconditionally, a person should respond by carefully weighing the following points.