Gyeongnam Bank Sues '56 Billion Embezzlement Employee' "Will Prevent Customer Damage"

BNK Gyeongnam Bank has filed a complaint with investigative authorities against an employee who embezzled approximately 56 billion KRW related to real estate project financing (PF) funds and has begun efforts to recover the funds.

Gyeongnam Bank announced on the 2nd that it confirmed an employee in charge of real estate PF embezzled 56.2 billion KRW and filed a complaint against the employee with investigative authorities.

Gyeongnam Bank recently identified signs of illegal activities by the employee and, after conducting an internal investigation, confirmed that the employee illegally embezzled funds related to two PF cases.

Gyeongnam Bank stated, "It has been confirmed that the employee used illegal and deviant methods, such as forging private documents, to circumvent the bank's internal control system," adding, "The employee has been reported to investigative authorities, and immediate personnel measures have been taken to exclude them from work."

Furthermore, Gyeongnam Bank emphasized, "We are cooperating closely with the Financial Supervisory Service's inspection to thoroughly investigate the overall circumstances of the incident," and "We will actively cooperate with any future investigations by authorities to fully resolve the situation."

To address this incident, Gyeongnam Bank established an emergency response team and additionally deployed a practical support team. The bank also proceeded with creditor protection measures such as provisional seizure of real estate and deposits related to the employee and associated parties to recover the embezzled funds.

The bank stated, "We will take all possible measures to ensure that customers and local residents suffer no damage related to this incident," and added, "Regarding the embezzled funds, we will cooperate with law firms and other entities to recover as much as possible through all available means to minimize the bank's losses."

This content was produced with the assistance of AI translation services.