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FSS Conducts Intensive Probe into Banks' Alleged Hiring Irregularities

Written: 2017-12-22 10:39:55Updated: 2017-12-22 11:32:01

FSS Conducts Intensive Probe into Banks' Alleged Hiring Irregularities

South Korea's financial watchdog has launched an intensive inspection of alleged irregularities in local banks' recruitment processes. 

According to the financial industry on Friday, the Financial Supervisory Service(FSS) started investigating eleven banks on Tuesday, mobilizing 30 inspectors. 

The inspectors searched and examined documents, materials and computers at the banks after securing consent from the banks' executives and officials in charge of recruitment processes. 

This is different from a usual investigation procedure in which the FSS asks related organizations to present related documents. 

An FSS official said that inspectors conducted on-site investigations since it's hard to detect hiring-related irregularities through the usual investigation procedures. 

Indeed, the affected banks, including Kookmin, KEB Hana, Shinhan and Nonghyup, reported to the FSS that internal probes have found no evidence of wrongdoing in their hiring processes. 

The initial investigation will conclude later Friday.

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