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Abnormal overseas money transfers at 2 banks valued at 4.1 tln won: watchdog

All News 14:30 July 27, 2022

SEOUL, July 27 (Yonhap) -- South Korea's financial watchdog said Wednesday its probe found abnormal foreign exchange transactions reported by two major banks, Woori Bank and Shinhan Bank, were valued at 4.1 trillion won (US$3.2 billion).

Unspecified local cryptocurrency exchanges were involved in the suspicious foreign currency transactions, and most of the money was remitted abroad, according to the Financial Supervisory Service (FSS).

The FSS has been conducting inspections into the two lenders, as they reported to the watchdog that their local branches handled abnormal overseas money transfers worth a combined 2.5 trillion won.

This computerized image depicts cryptocurrency transactions. (Yonhap)

sooyeon@yna.co.kr
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