Contents
① Case Study - Illegal Money Transfer Investigation
A client of Chinese nationality lent their bank account to an acquaintance upon request. Later, foreign currency was withdrawn from that account, leading to an investigation for violating the Foreign Exchange Transactions Act.
Although the client was not involved in the transactions, they became a subject of investigation simply because they were the account holder. The legal representative provided a detailed explanation of the flow of funds and the circumstances surrounding the account’s use, demonstrating that the client had no intent or involvement in the transactions.
② Violation of the Foreign Exchange Transactions Act — The Criteria Are Divided Depending on the Circumstances
Sending money for living expenses or briefly lending your account to a friend—Even if these actions stem from personal circumstances, failing to go through the proper reporting or authorization procedures when transferring foreign currency can lead to criminal liability.
Separately, the Immigration Office may impose restrictions on routine administrative procedures—such as visa extension denial, limitations on status changes, or refusal to issue new visas—based on the individual's criminal record.
③ Bigger Problems Start After Criminal Sentence
A criminal sentence does not always mark the end of the matter for foreigners. Immigration authorities may separately review the situation and consider measures affecting residence status.
④ Why do we need assistance from experts?
⑤ Final Words
What seemed like a simple money transfer at first can lead to irreversible administrative consequences. Cases involving illegal money transfers are issues that many foreigners unexpectedly face.
Often, it starts with sending living expenses or helping a friend by lending an account. However, investigative authorities assess the situation based on the structure of the transaction and the remittance process to determine whether a legal violation occurred.
Violations of the Foreign Exchange Transactions Act and illegal money transfer cases affect both criminal and immigration status. Seeking assistance from legal professionals may be an important step in minimizing disadvantages depending on the circumstances.
In Majung, a criminal law specialist certified by the Korean Bar Association analyzes the facts and establishes a defense strategy from the early stages of a money transfer case, while a legal representative with experience at the Immigration Office provides integrated support for immigration-related matters.
Foreign Specialized Support at Majung Foreigner Center
Multilingual consultation available in English and Chinese.
Professional interpreters assist from the first consultation to the conclusion of the case.
Offices in Seoul, Daejeon, Busan, Daegu, and Gwangju.
