Jeong Seong-ho on Cambodia Scam Crisis: “Criminal Proceeds Must Be Confiscated Regardless of Conviction”

[Financial News] Minister of Justice Jeong Seong-ho referenced the Cambodia Scam Crisis and highlighted the need for legislation on the independent confiscation system, which would allow criminal proceeds to be seized independently of a conviction.
In a Facebook post on the 23rd, Jeong Seong-ho stressed, “To prevent further incidents like the Cambodia Scam Crisis and to respond to transnational crimes such as child sexual exploitation that cross borders, the independent confiscation system must be introduced.”
Jeong Seong-ho pointed out that the current criminal justice system has limitations in confiscating criminal proceeds and returning them to victims.
He stated, “Under the current system, criminal proceeds can only be recovered and returned to victims if the defendant is convicted. This means that even if criminal proceeds are identified through investigation, there are structural constraints that prevent confiscation if the perpetrator cannot be identified or is abroad and cannot be prosecuted.”
He continued, “Investigating the main offenders and tracking the flow of funds in Cambodia takes considerable time. If we have to wait for their arrest, extradition, and conviction, the confiscation of criminal proceeds and the restoration of victims’ lives will inevitably be delayed. Therefore, it is necessary to introduce the independent confiscation system, which would allow courts to confiscate illicit gains if their illegality and connection to crime are proven, regardless of a conviction.”
He added, “The discussion on the independent confiscation system gained momentum after the recovery of slush funds from former Presidents Chun Doo-hwan and Roh Tae-woo. Currently, eight bills proposed by lawmakers from both parties are pending in the 22nd National Assembly. For swift crime response and public protection, I urge both parties to finalize the introduction of the independent confiscation system during this regular session.”

jisseo@fnnews.com Seo Min-ji Reporter