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KB Financial Group headquarters building. (Photo courtesy of Yonhap News) |
[Alpha Biz= Paul Lee] Seoul – KB Kookmin Bank announced on September 4 that an embezzlement case worth approximately KRW 1.76 billion (USD 12.8 million) occurred at its Indonesian subsidiary.
According to the bank’s disclosure, the incident involved a locally hired employee who falsified loan documents for clients ineligible for lending. The misconduct spanned from March 24, 2023, to March 24, 2024, and was uncovered during an internal audit following red flags identified in routine inspections.
KB Kookmin Bank confirmed it has filed a criminal complaint against the employee with the local investigative authorities.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
