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Photo: Financial Supervisory Service (FSS) |
[Alpha Biz= Kim Sangjin] The Financial Supervisory Service (FSS) has sent additional personnel to IBK Industrial Bank, which is currently under investigation for a financial scandal involving an estimated 24 billion won.
According to financial sources on Tuesday, the FSS dispatched four more inspectors to join the team that began inspecting the bank last week, bringing the total number of inspectors to eight.
Earlier, IBK Industrial Bank reported a 23.95 billion won embezzlement incident on the 9th. The issue involves inflated property collateral valuations at bank branches in the Gangdong area of Seoul, leading to excessive loans. The incident occurred between June 2022 and November 2 of the previous year.
The bank discovered the issue through its own regular audit and reported it to the FSS, prompting the ongoing inspection. Initially, the FSS had set a one-week inspection period but has since extended it until the 21st, with the possibility of further extensions depending on the progress of the investigation.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
