Savings Banks, Illegal Work Loans Rising… Financial authorities “consumers are also subject to criminal punishment”

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[Today Newspaper Reporter Park Joo-hwan]As the government tightened regulations on household loans, cases of illegal handling of business mortgage loans by savings banks have increased.

The Financial Supervisory Service announced on the 22nd that, while savings banks’ business loans increased rapidly, it had confirmed a number of cases of unfair treatment by working loan organizations through intervention, forgery and falsification of documents.

According to the Financial Supervisory Service (FSS), the size of savings banks’ business loans increased every year from 5.7 trillion won in 2019 to 6.9 trillion won in 2020 and 10.9 trillion won in 2021.

As of the end of March this year, it has already recorded 12.4 trillion won, a sharp increase compared to the previous year, and the proportion of private business subsidies (83.1%) is particularly high.

The working loan organization pointed out by the Financial Supervisory Service is composed of loan collectors, and uses advertisements such as leaflets and internet cafes to approach financial consumers who have difficulty in lending, then forges, forges, and disguises necessary documents as normal circumstances to lead the occurrence of unfair loans. are doing

Above all, the work loan is an act that seriously undermines the effectiveness of state management in terms of evading the household loan regulation promoted by the government.

In addition, it is highly likely to increase the loan default risk of savings banks and deteriorate the soundness. This is because, if the real estate market slows down and interest rates rise, insolvency is expected due to a fall in the value of collateral and an increase in interest burden.

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In addition, it is pointed out that the loan provided by the business owner is used for housing purchase funds, etc., impairing the function of supplying funds to the productive sector.

Accordingly, the FSS plans to focus on the adequacy of credit review and follow-up management related to work loans when inspecting savings banks in the future, and if violations are found, strict sanctions will be imposed.

To this end, in the second half of this year, an on-site inspection of loan solicitors will be conducted. According to the results of on-site inspections, the Financial Supervisory Service plans to sanction loan solicitors involved in illegal work loans, while also pursuing measures such as termination of recruitment consignment contracts and notification to investigative agencies.

In addition, the Financial Supervisory Service urged caution, saying that consumers may also be subject to criminal punishment as accomplices.

An official from the Financial Supervisory Service said, “Under any circumstances, you should not engage in or be involved in work loans through forgery or falsification of public and private documents. “You may be restricted in financial transactions such as opening an account, or you may be disadvantaged in the case of employment,” he said.

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