Kookmin Bank was fined 100 million won for submitting false data to the FSS inspection

Kookmin Bank was fined 100 million won for submitting false data to the FSS inspection: COMPANY / Reporter Kim Jisun / 2023-02-20 05:19:55

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

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[Alpha Biz=(Chicago) Reporter Kim Jisun] KB Kookmin Bank was found to have been fined for interfering with the Financial Supervisory Service's inspection.

According to the financial sector on the 18th, the Financial Supervisory Service detected obstruction of inspection, including the submission of false data, in the inspection of Kookmin Bank, and imposed a fine of 100 million won and warned two employees.

Kookmin Bank's department A was found to have intentionally manipulated a document reported by the bank's president, which includes "voluntary reporting of laws and regulations" on violations of the Foreign Exchange Transactions Act on derivatives transactions before losses.

The Financial Supervisory Service imposed fines on the department for submitting such false data, saying that the FSS inspection team interfered with the inspection work, such as causing confusion in finding out facts such as how the violation occurred and the appropriateness of management's response.

In addition, the Financial Supervisory Service notified Kookmin Bank of its management caution, asking it to strengthen internal control monitoring of loan recruiters. It also called for improved procedures for returning and reversing customer documents related to loans from loan recruiters.