Woori and Shinhan “Securing 2.5 trillion won ‘abnormal transaction'” first report
As a result of investigation by the Financial Supervisory Service, the amount of ‘abnormal transactions’ significantly increased
22 related corporations… Some representatives are the same person or relative
Raising the possibility of illegal trade using ‘Kimchi Premium’
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[앵커]
Some of the suspicious transactions sent overseas through Woori Bank and Shinhan Bank accounts have been confirmed.
The amount revealed so far alone amounts to 4 trillion won, and the money transferred from the virtual asset exchange was disguised as trade proceeds.
The FSS has expanded the investigation target to all banks in Korea.
Reporter Cho Tae-hyun reports.
[기자]
At the end of last month, large-scale foreign currency remittances were detected at Woori Bank and Shinhan Bank, respectively.
At that time, the bank reported a total of 2.5 trillion won, including 900 billion won for Woori Bank and 1.6 trillion won for Shinhan Bank.
However, as a result of investigation by the Financial Supervisory Service that received the report, there were much more abnormal transactions.
Woori Bank’s 1.6 trillion won and Shinhan Bank’s 2.5 trillion won, the total size jumped to 4.4 trillion won.
Most of the transactions were related to virtual assets.
Companies that do business with banks collect funds transferred from domestic virtual asset exchanges at trading corporations and then remittances to foreign corporations for reasons such as payment of imports.
A total of 22 corporations were intertwined, but it was confirmed that the representatives were the same person or relatives.
First of all, the overseas remittances of these companies are presumed to be aimed at the so-called ‘kimchi premium’, where the price of domestic virtual assets is higher than that of foreign countries.
It is highly probable that even the same virtual asset was sold abroad at a higher price than abroad by investing a large amount of money to realize a profit and then diverting it abroad.
As the authorities have expanded inspections not only to Woori and Shinhan, but also to all banks, the size of abnormal transactions is expected to grow even more.
[이준수 / 금융감독원 부원장 : 주요 점검 대상 거래 규모는 현재 금감원에서 두 개 은행에 대해서 검사 중인 거래를 포함해 53.7억 달러, 44개 업체 수준입니다.]
The Financial Supervisory Service plans to notify the prosecution and the Korea Customs Service if abnormal transactions are found, and conduct additional inspections of banks if necessary.
In the case of banks that do not properly implement foreign exchange handling and anti-money laundering duties, strict measures will be taken in accordance with relevant laws and regulations.
My name is Taehyun Cho from YTN.
YTN Cho Tae-hyun (choth@ytn.co.kr)
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