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Photo = Woori Bank |
[Alpha Biz= Reporter Kim Jisun] Financial Supervisory Service Expands Inspection of Woori Bank Following 10 Billion KRW Embezzlement Incident
The Financial Supervisory Service (FSS) will expand its inspection of Woori Bank following the 10 billion KRW embezzlement incident. Starting on the 21st, the FSS will add three more inspectors to the on-site team at Woori Bank.
The FSS initiated an emergency inspection on the 12th in response to the embezzlement case, increasing the inspection team from six to nine members. Notably, an FSS executive in charge of banking visited Woori Bank's headquarters to oversee the inspection process.
An FSS official stated, "Despite the supervisory authorities' strong orders to strengthen internal controls, another significant financial incident has occurred. We view this matter very seriously."
The FSS is conducting a thorough inspection not only at the branch where the incident occurred but also of the overall loan-related procedures at the headquarters level. They are focusing on identifying the failures in branch management and accident prevention.
The FSS is considering extending the inspection period, which is currently set to end early next month. Any employees found to have violated laws during this inspection will face strict disciplinary actions within the scope of current regulations.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
