521 employees at financial industry disciplined over irregularities

Published : Mar 27, 2017 - 10:18 Updated : Mar 27, 2017 - 10:18

A total of 521 executives and employees in the nation's financial industry were disciplined last year over their irregularities, data showed Monday, representing that moral hazard was still rampant in the financial markets.

Some employees were accused of allegedly swindling customers' money, while others were criticized for neglecting their duties of securing customer information, according to the data by the Financial Supervisory Service.

(Yonhap)

Of the 521 people who were disciplined last year, 96 were executive-level employees, the FSS said.

Last year, 11 employees at Hyundai Card were reprimanded after they were found to have deceived customers over some credit card services.

Also, four executives and five employees at Daea Mutual Savings Bank were disciplined as they helped a major shareholder of the bank earn inappropriate profits, the FSS said.

Financiers enjoy relatively higher pay than workers in other industries, but at the same time, some unethical bankers and others in the financial sector easily succumb to temptation to engage in irregularities or embezzlement. (Yonhap)