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Study on forgery, falsification and misuse of electronic cash on criminal law

  • DONG-A LAW REVIEW
  • 2011, (53), pp.141-166
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

PARK SUNG MIN 1

1목포대학교

Accredited

ABSTRACT

Recently, electronic cash is widely used in commercial trades in addition to cash as traditional means of payment. Electronic cash is classified as IC card type electronic cash and network type electronic cash according to its type, and the use thereof is expected to be activated as electronic cash has merit in small amount settlement in comparison with credit card. Meanwhile, study on forgery, falsification and misuse of electronic cash is in rather scarce situation. Furthermore, recently fraud cases utilizing monetizable character of electronic cash do happen and hacking cases are frequently arising on ‘Dotori’ which is the cyber-money on Cyworld, with potential to develop into electronic cash. At this point where electronic cash is becoming crime target, it would be a meaningful effort to examine the criminal phenomenon on electronic cash and seek responses thereon in criminal law. This study describes the subject emphasizing forgery, falsification and misuse of electronic cash. The Electronic Financial Transactions Act Article 49 does stipulates forgery, falsification of electronic cash, but the Act acknowledges all electronic cash uniformly as securities. However, apart from IC card type, it is not proper to acknowledge features of securities in network type electronic cash. Also, as The Electronic Financial Transactions Act illustrates application stipulations not relevant to electronic cash, the amendment of Article 49 is required. Related thereon, this study discusses proposed revision of Electronic Financial Transactions Act. Meanwhile, on misuse of electronic cash, this study classifies and reviews the case of misuse by a eligible party for electronic cash and by ineligible party for electronic cash. In case of misuse by eligible party for electronic cash, the Electronic Financial Transactions Act has related stipulations, but there are crimes reaching over the provisions of the Act. This study points out the scope of the insufficient features of the Act. In case of misuse by parties ineligible for electronic cash, there are use of falsificated or forged electronic cash and use of other persons' electronic cash by finding out access media as electronic information through hacking. Especially. the case of misuses through hacking are expected to take much weight in misuse of electronic cash in the future, and author confirms that the Electronic Financial Transactions Act is well responding to the crime.

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