(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] A significant embezzlement incident has occurred at Woori Bank. According to financial industry sources on the 10th, Woori Bank has discovered that approximately 10 billion KRW in customer loan funds was embezzled at a branch located in Gyeongsang Province. The bank is currently investigating the exact amount and circumstances of the theft.

Employee A at the branch reportedly embezzled the funds by forging loan applications and deposit-related documents from the beginning of this year until recently. It is known that A invested the stolen funds in overseas futures, resulting in a loss of about 6 billion KRW.

Woori Bank explained that its internal control system detected the misconduct. The bank’s loan auditing department identified irregularities in the loan process through monitoring, which led to a request for an explanation from A and a verification of transaction details by the team leader. A special inspection team has been dispatched to the branch to thoroughly investigate the incident and recover the embezzled funds. The bank also plans to proceed with claims for indemnity and to review and strengthen internal control procedures.

 

 

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