Woori Bank probed for alleged irregular foreign currency transactions: report

Sources said that the deals, worth billions of won, were executed over the past year.

South Korea’s Woori Bank is under probe for its alleged involvement in irregular foreign currency transactions, industry sources told Yonhap.

The Financial Supervisory Service (FSS) reportedly carried out a spot inspection into one of the bank's branches last week after the bank found in a recent internal audit that foreign currency deals that go beyond conventional practices have been conducted there, according to the sources.

The deals in question–said to be worth billions of won– have been executed over the past year, the sources added.

These transactions and the FSS’ alleged inspection are separate from an earlier embezzlement case involving a Woori employee. the sources said.

A bank employee along with his brother were recently indicted on charges appropriating more than 60 billion won (US$46 million) from the bank.

Follow the link for more news on

Woori Financial

Woori Bank probe

Also Read

Malaysia fines money changer for customer due diligence lapses

BofA launches guaranteed FX rates with up to a 1-year tenor

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit