Shinhan Bank teller steals 200 million won from a Busan branch

A Shinhan Bank clerk stole 200 million won ($150,000) from a vault at the bank, the company said Monday.

Shinhan Bank's main branch in central Seoul on April 21 [NEWS1]

A Shinhan Bank clerk stole 200 million won ($150,000) from a vault at the bank, the company said Monday.

The theft occurred at a Busan branch and was discovered internally by an inspection team, according to Shinhan Bank.

"We're currently internally investigating the case and have also completed an inspection of the all branches as of Friday morning," said a spokesperson for Shinhan Bank. "We are trying to resolve this issue and will try harder to prevent a repeat of such incidents."

Shinhan Bank did not reveal if or when it would take the case to the police.

Financial institutions are not required to report a loss to the Financial Services Commission (FSC) if the amount is less than 300 million won. But they are required to report it to the FSC regardless of the amount if the loss was a result of embezzlement, according to a spokesperson for the Financial Supervisory Service.

Embezzlement involves the taking of property by a person who has lawful control of that property.

A Woori Bank employee was arrested last month for allegedly embezzling more than 60 billion won.

BY JIN MIN-JI [jin.minji@joongang.co.kr]