All posts tagged "Industrial Bank of Korea"
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166EnforcementFSS Korea Orders Woori, IBK to Compensate Lime Investors
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021 -
245Asia-PacificMyanmar Banks Reopen Amid Military-led State of Emergency
Some foreign banks have launched emergency safety measures, ordering employees to stay at home or halting operations indefinitely.
February 3, 2021 -
170Enforcement
Korea FSS to Order Banks to Compensate Lime Fund Investors
Woori Bank, Busan Bank and Industrial Bank of Korea have reportedly agreed to pay restitution to investors based on estimated damages.
January 26, 2021 -
196KoreaS. Korea Selects Market Makers for Won-Yuan Direct Market
The selected banks will play a leading role in price formation and in supplying liquidity to the KRW/RMB direct trading market.
January 3, 2021 -
1.2KFintech / RegtechFSC Korea Opens Access to Public Financial Institution Data
The public release of the data is expected to contribute to the advancement of the data economy and fintech industry, while also creating more jobs in data-driven innovative services.
June 9, 2020 -
711AML / KYCUS Seeks Extradition of Money Launderer Jailed in S. Korea
A civil forfeiture complaint alleges that Kenneth Zong, a US citizen held in Korea, conspired with Iranian nationals in 2011 to launder $1bn through the UAE and other countries.
June 8, 2020 -
792AML / KYC
Industrial Bank of Korea to Pay $86m for US Sanctions Violations
The bank failed to capture and prevent USD 1 billion in transactions to Iranian entities, cleared through financial institutions located in New York including its own branch.
April 22, 2020 -
586Feature
BOK to Launch New Loan Programme for Brokers, Insurers
Under the programme, corporate bonds rated AA or higher are eligible as loan collateral, a major shift for the BOK which has traditionally only bought government debt.
April 17, 2020 -
920Asia-PacificMyanmar Awards Licences to Seven More Foreign Banks
The preliminary licences were awarded to three Korean banks, two Taiwanese banks, one Hong Kong bank and one Thai bank.
April 13, 2020 -
807EnforcementNine Korean Banks Face Legal Action for Selling Loss-Making Funds
Investors are reportedly preparing for a suit against banks which sold them loss-making funds from Lime Asset Management without properly disclosing the risks.
January 9, 2020
