[Alpha Biz= Reporter Kim Minyoung] The Korea Investment Savings Bank has been sanctioned by financial authorities for embezzling 1.5 billion won in customer funds.
The Financial Supervisory Service has issued an institutional warning and a fine of 2,400 million won to the Korea Investment Savings Bank for embezzling customer funds and setting aside less than the regulations.
A warning was given to one executive and a warning to two.
An employee of the Korea Investment Savings Bank embezzled 1.54,100 billion won in customer funds between April and December last year by falsely filling out a request for withdrawal of business funds.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
