The amount of embezzled money at local banks and financial institutions has been estimated at over 180 billion won over the past six years.
According to the data submitted by the Financial Supervisory Service (FSS) to the office of Rep. Kang Min-kuk of the ruling People Power Party on Sunday, as of June 14, more than 180 billion won has been embezzled since 2018.
Embezzlement at financial firms is being reported every month this year: two cases in January, one each in February and March, three in April, and two each in May and June.
The combined amount of embezzlement is likely to increase, as the latest case that occurred at Woori Bank earlier this month was not included in the data.
But a mere nine-point-seven percent, or 17-point-45 billion won of the total, has been redeemed.
Rep. Kang said that embezzlement cases occur every month as if mocking the supervision by the FSS, indicating a serious lack of a law-abiding spirit among executives and employees of financial companies.
He added that the increasing embezzlement demonstrated that the nation has reached a point where it is difficult to prevent financial accidents such as embezzlement with internal measures.
