It was found today (29th) that the amount of embezzlement of employees of financial institutions, including banks, who receive billions of dollars in annual salary, has reached 170 billion won over the past six years.
It is pointed out that the moral hazard of the financial sector is serious as executives of financial institutions where embezzlement accidents occur frequently receive large salaries and bonuses even in the year of the accident.
According to data submitted by the Financial Supervisory Service to Rep. Yang Jeong-suk (independent) of the National Assembly Political Affairs Committee today (29th), a total of 327 cases of embezzlement of KRW 170.4 billion occurred at 78 financial institutions from 2017 to August this year.
The amount of damage caused by embezzlement accidents in the financial sector is increasing every year.
It briefly slowed from 14.4 billion won in 2017 to 11.2 billion won in 2018, but increased to 13.1 billion won in 2019, 17.7 billion won in 2020, and 26.1 billion won last year. increased more than 6 times.
The financial sector with the largest amount of embezzlement was banks with 89.4 billion won.
It was followed by mutual finance with KRW 25.6 billion, asset management with KRW 16.7 billion, and savings bank with KRW 14.9 billion.
Woori Bank had the highest amount of embezzlement by financial institutions at 71.6 billion won, followed by Unit Nonghyup with 15.3 billion won, Hana Bank with 6.9 billion won, Suhyup with 6.8 billion won, Shinhyup with 6.1 billion won, NH Nonghyup Bank with 2.9 billion won, IBK Industrial Bank with 2.7 billion won and KB Insurance. It was followed by 1.2 billion won, 800 million won for Samsung Life, and 700 million won for Shinhan Bank.
In the financial sector where employee embezzlement accidents occurred most frequently, mutual financial companies such as credit unions, unit agricultural cooperatives, and fisheries cooperatives had a total of 136 cases over the past six years, followed by banks (94 cases), insurance companies (67 cases), and securities (15 cases). .
One of the individual financial companies, Hana Bank, the unit Nonghyup, and credit unions have been embezzled every year from 2017 to this year.
Shinhan Bank, Industrial Bank of Korea, Nonghyup Bank and Suhyup have been embezzled over the past five years, and Woori Bank has been involved in embezzlement for four consecutive years from 2019 to this year.
Samsung Life is the only insurance company that has been embezzled for four years.
In terms of the number of cases of embezzlement, the Nonghyup unit had the highest number of cases with 59 cases, followed by Credit Unions with 58 cases, Suhyup with 19 cases, Hana Bank with 17 cases, Nonghyup Bank with 15 cases, Shinhan Bank with 14 cases, IBK with 10 cases, Woori Bank with 9 cases and KB Kookmin Bank with 7 cases. , and 5 cases of Samsung Life Insurance.
Registered executives of 11 banks, insurance companies, and mutual finance companies that have been embezzled three or more times over the past six years have received annual salaries and bonuses worth 64.2 billion won during this period.
In 2017, even though there were 68 times of embezzlement of KRW 14.4 billion in financial institutions, the executives registered at the banks, insurance and mutual finance companies received a total of KRW 9.1 billion in annual salary and bonuses.
Last year, when 26.1 billion won of embezzlement occurred, registered executives took 16.8 billion won.
Rep. Yang pointed out, "The repeated occurrence of embezzlement accidents every year at the same financial company is evidence that measures to prevent recurrence have not been properly prepared."
The Financial Services Commission and the Financial Supervisory Service recently formed the 'Financial sector internal control system improvement task force' in order to eradicate repeated embezzlement incidents in the financial sector, and are discussing overall internal control system improvement in the financial sector.