FSS mulls penalty over Kookmin Bank's audit interference

SEOUL, Jan. 15 (Yonhap) -- South Korea's Financial Supervisory Service (FSS) is
considering punishing Kookmin Bank over the lender's alleged interference in a
regulatory audit, the financial regulator said Friday.

The regulator alleged that Kookmin Bank, the flagship unit of KB Financial Group
Inc., leaked memos detailing questions and documents that had been asked by the
FSS during the preliminary audit between Dec. 16-23.
The FSS launched a full-scale probe into the two companies on Thursday.
The regulator suspects the bank leaked the record to people outside of the bank,
possibly media organizations.
"FSS is examining whether such leak could constitute illegal interference into
the probe", an FSS official said.
Kookmin Bank could be slapped with fines of up to 10 million won (US$8,900) if
proven guilty according to local laws governing the banking industry.
The FSS is set to hold a press conference later in the day to reveal its stance
on the allegations.
pbr@yna.co.kr
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