[Breaking] FSC: "Amount Embezzled in Gyeongnam Bank Incident 298.8 Billion KRW"
![[Breaking] FSC: "Amount Embezzled in Gyeongnam Bank Incident 298.8 Billion KRW"](http://www.asiae.co.kr/news/img_view.htm?img=2023072710454521660_1690422346.jpg)
The Financial Supervisory Service (FSS) recently announced on the 20th that the amount involved in the embezzlement incident related to project financing (PF) loans at Gyeongnam Bank has reached 298.8 billion KRW.
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The FSS stated that it confirmed this fact as a result of an emergency on-site inspection conducted since July 21. The FSS explained that the cause of this large-scale embezzlement incident was the failure of the internal control functions throughout BNK Financial Group and Gyeongnam Bank to properly operate in preventing financial accidents.
This content was produced with the assistance of AI translation services.
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