trending Market Intelligence /marketintelligence/en/news-insights/trending/lr6dadtxzizgqng4krhj9q2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

South Korean financial watchdog to expand anti-nepotism probe


Latin American and Caribbean Market Considerations Blog Series: Focus on LGD


Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level


Fintech Intelligence Digital Newsletter: May 2021

South Korean financial watchdog to expand anti-nepotism probe

South Korea's Financial Supervisory Service will expand its probe into banks' hiring irregularities to about 980 nonbanking financial institutions, Asia Today reported Feb. 20, citing FSS Governor Choe Heung-sik.

The watchdog plans to look into hiring practices in the nonbanking financial sector as part of scheduled inspections of internal controls, given the large number of companies in the sector.

In addition, the FSS will use the existing online hotline to obtain whistleblower tips and conduct follow-up investigations.

The FSS in late 2017 reportedly began inspections at domestic banks to look into possible influence-peddling in their hiring practices, looking into cases involving children of current and former executives.

The watchdog is currently preparing best-practice guidelines for employee hiring in the financial services sector.