 |
Photo = Yonhap news |
[Alpha Biz= Paul Lee] SC Bank Korea has reported a financial incident involving improper documentation related to loan transactions, resulting in losses totaling approximately KRW 13.03 billion (USD 9.4 million).
According to disclosures made on June 25, the bank stated that the irregularities occurred over a period of approximately two years and four months—from February 2022 to June 2023. The case involved the collection of inappropriate or unauthorized documents in connection with credit (loan) transactions.
The exact amount of losses is still under investigation. The bank has launched an internal review and is taking corrective measures to improve related operational processes. SC Bank Korea also noted that it will take appropriate disciplinary action against the employees found responsible.
The incident highlights the ongoing risks associated with internal controls in financial institutions and underscores the need for enhanced oversight in loan-related documentation procedures.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
