KB Kookmin Bank has reported a financial fraud incident totaling 3.5779 billion won (approximately $36 million).
The bank disclosed on August 12 that the fraud, attributed to external parties, occurred between September 2023 and December 2024. The incident was identified during the loan approval process at the branch handling the loans, where unusual signs were detected. The estimated loss amount has not yet been finalized.
A representative from KB Kookmin Bank stated, "This case involves collusion between real estate developers and fake investors to commit loan fraud against the financial institution," adding that law enforcement is currently investigating the individuals involved.
* This article has been translated by AI.
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