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[Apha Biz=(Chicago) Reporter Paul Lee] A KRW 56 billion embezzlement accident occurred at Kyongnam Bank. It is the second time that a massive embezzlement accident has occurred in the banking sector since Woori Bank's embezzlement of 70 billion won last year.
In particular, "lax internal control" have come under fire again as the person involved in the accident embezzled by similar means, such as forging documents and stealing family names while working in one department for more than 10 years.
According to a report by Kyongnam Bank on the 3rd, the Financial Supervisory Service launched an emergency on-site inspection on the 21st of last month and confirmed that employee A (50) embezzled a total of 56.2 billion won on the 1st.
Kyongnam Bank found embezzlement worth 7.79 billion won in its own investigation alone, with an additional 48.4 billion won (embezzlement and misappropriation) confirmed during an on-site inspection by the FSS that took place later.
The banking sector is paying attention to the fact that the embezzlement at Kyongnam Bank is similar to the KRW 70 billion embezzlement at Woori Bank last year. This is in common that an employee who has worked in a certain department for more than 10 years has touched the company's money.
The employee, who siphoned off 70 billion won worth of company money from Woori Bank, embezzled it while working in the corporate improvement department for about 10 years. A, a Kyongnam Bank embezzlement accident, was also identified as the head of the Real Estate Investment Finance Department, which had been in charge of real estate project financing (PF) for 15 years. Mr. A has been in charge of real estate PF for about 15 years from December 2007 to April this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
