Shinhan Bank Branch Employee Suspected of Embezzling 200 Million Won... Bank's Internal Audit

[Asia Economy Reporter Seongpil Cho] It has been reported that Shinhan Bank has launched an internal investigation after detecting signs that an employee at one of its branches embezzled money.

According to the financial sector on the 15th, Shinhan Bank identified through its internal control system on the 12th that employee A at a branch in Busan had embezzled petty cash and has initiated an internal audit. The suspected amount involved is approximately 200 million KRW. Immediately after recognizing the situation, on the morning of the 13th, Shinhan Bank conducted an internal audit across all branches and completed the inspection.

Following the recent 61.4 billion KRW embezzlement case involving a Woori Bank employee, banks have been strengthening their internal control systems. According to financial authorities' data, monetary incidents at banks last year included ▲8 cases of fraud (680 million KRW) ▲3 cases of breach of trust (4.19 billion KRW) ▲16 cases of embezzlement and misappropriation (6.76 billion KRW). Financial incidents with losses exceeding 1 billion KRW must be separately disclosed.

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