Recent Trends of Economic Crime in Korea and Institutional Recommendations

Recent Trends of Economic Crime in Korea and Institutional Recommendations

In the wake of rapid economic growth, liberalization, and internationalization the Korean economy has been of late faced with a high risk of illegal activities for crime returns. In the perspective of new institutionalism and economics of crime, with a scheme of matrix of illegal risk and policing cost minimization (effectiveness and efficiency) this study gropes for strategy and institutional countermeasures against economic crime. To put it more concretely, it proposes some suggestions which comprise the improvement of laws and regulations, and the securing of specialized organizations in the phase of institutional design. Moreover, it recommends the establishment of advanced risk management and valued information system, and the building of a cooperative policing system among the interested players on the prudent policy mix and governance in the phase of institutional implementation..