K-Bank, 11 billion won financial accident…accused of ‘paper company’ fraud organization

A financial incident worth 1.1 billion won occurred at K-Bank. Investigators 토토사이트are investigating the incident as an organized fraud by a group using a paper company.

According to K-Bank on the 23rd, a financial accident involving 1.193 billion won ($1.1 billion) in fraud through ‘submission of false income data’ occurred over 10 months from February 19 to December last year. This is the first time K-Bank has disclosed a financial accident.

The incident occurred when a group of fraudsters established a paper company and had individuals receive credit loans. The paper company was used to verify conditions such as business registration and payment of health insurance premiums to verify whether the employee had earned income. The fraudsters executed more than 10 loans in 10 months last year based on the business entities.

K-Bank’s Financial Fraud Investigation Department detected an abnormal pattern related to the loans during a regular review process after the loans were executed and reported the case to the police.

Out of the total amount of 1.193 billion won, about 800 million won is expected to be recovered through various measures such as suspension of the fraudulent organization’s account. Excluding the recovered amount, the estimated loss is 396.42 million won.

An official from K-Bank said, “We were able to prevent further damage by preemptively identifying the facts during the loan screening and abnormal transaction detection process after the loan,” adding, “The investigation is underway by the investigative agency by filing a complaint against the relevant customer.”

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