(Photo = K-bank)

 

[Alpha Biz= Reporter Kim Sangjin] According to the Financial Supervisory Service (FSS), K-Bank and Kakao Bank have been fined by financial authorities for belatedly disclosing financial incidents involving tens to hundreds of billions of won.

The FSS imposed fines of 30 million won and 26.8 million won on K-Bank and Kakao Bank, respectively, based on the results of ad-hoc inspections.

According to the FSS, K-Bank experienced two cases of loan fraud amounting to 15 billion won on January 14, 2022, and 11.1 billion won on February 8, 2023. While both incidents were reported to financial authorities the following day, K-Bank failed to disclose the financial incidents on its website until May 19 of the same year for the incident that occurred on February 8, 2023. The loan fraud that occurred on January 14, 2022, remained undisclosed until the end of the FSS inspection.

At the time, under the Banking Act and Enforcement Decree, banks were required to disclose financial incidents of 1 billion won or more within 15 days through their internet homepages.

Kakao Bank also failed to disclose two cases of loan fraud totaling 19.89 billion won on March 4, 2022, and 1.53 billion won on April 5, 2023, within 15 days of the occurrence of the financial incidents.

 

 

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