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NTS traces of bank accounts on rise

Posted October. 26, 2000 13:54,   


It was pointed out that the bank account trace by the National Tax Service is soaring and that there is a big difference from one region to another. Lee Han-Ku, member of the Grand National Party, said at the inspection of administration that NTS's tracking of bank accounts has been increasing substantially.

He also noted that the number of bank accounts tracked by the NTS's regional office in Pusan nearly has tripled since 1997, whereas that of the NTS's regional office in Kwangju has dwindled to one-third during the same period.

Lee claimed that the number of NTS bank account traces increased from 1996's 1,099 to 1,221 in 1997, 1,329 in 1998 and 1,308 in 1999. By region, Seoul hasn't changed much with 547 cases in 1997 and 511 in 1999. However, the number of trackings soared in Pusan from only 42 in 1997 to as many as 158 in 1999. Kwangju saw the number decrease substantially from 1997's 233 cases to 80 last year.

He pointed out that there was a possibility that the bank account tracking would be abused because it is done under the approval of the NTS or its regional offices without written orders of the court.

Also, it is burdensome to financial institutions, and some banks employ personnel to handle the bank account cases, according to Lee.