Prosecution of Economic Crimes – Financial Certification Required.

The Ministry of Justice and the Financial Supervisory Commission jointly formulated a “Professional Financial Course Three-level Certification Plan” in July 2008 with the aim of reinforcing the ability to prosecute economic crimes.  Prosecutorial officials and investigators who handle economic crime cases will be required to hold certification for the completion of professional courses.  The Investigation Bureau (IB) indicted that 170 officials, including heads and field investigators from investigation offices around the nation and from the Economic Crime Prevention Center, who are either responsible for handling corporate corruption cases or for auditing such cases started to study the courses for holding beginning level certification on 5 August.

The beginning professional courses mainly cover the basic fiscal and financial know-how divided into twelve topics, including “The interpretation of financial statements” and “Securities Trading Practice” (among other topics).  Investigators participate in the training courses have to pass examination for holding certification of beginning level.  IB started to offer classes for holding the intermediate professional course certification in September.  Only officials who hold beginning professional course certification are allowed to join the more advanced classes.

The Ministry of Justice aiming to reinforce the ability of officials who prosecute economic crimes promotes the “Professional Financial Course Three-level Certification Plan”.  The plan offers curriculum including purchase, insider trading, financing, money laundering, fraud, and asset misappropriation (among others).  Moreover, each curriculum lasts for at least a week.  Prosecutorial officials and investigators will be required to hold certification for the completion of intermediate level courses in order to undertake enterprise corruption cases.  (2008.8)
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