KB Kookmin Bank Faces 12 Billion KRW Embezzlement Incident... Financial Supervisory Service On-Site Inspection

[Asia Economy Reporter Bu Aeri] A breach of trust incident involving 12 billion KRW occurred at KB Kookmin Bank, prompting the Financial Supervisory Service to initiate an on-site inspection.

According to the Financial Supervisory Service, the on-site inspection began on the 3rd, targeting Kookmin Bank's headquarters.

Kookmin Bank announced through a financial accident disclosure on the 30th of last month that the financial incident occurred from May 7, 2021, to December 2 of last year.

The amount involved in the financial incident is 12,038,460,000 KRW. Kookmin Bank discovered the incident through an internal employee's report and its own investigation.

Kookmin Bank stated that it plans to take personnel actions against the employee responsible for this financial incident and proceed with criminal charges.

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