Abnormal overseas money transfers at 2 banks valued at 4.1 tril. won: watchdog

The Financial Supervisory Service (FSS) / Yonhap

Korea's financial watchdog said Wednesday its probe found abnormal foreign exchange transactions reported by two major banks, Woori Bank and Shinhan Bank, were valued at 4.1 trillion won ($3.2 billion).

Unspecified local cryptocurrency exchanges were involved in the suspicious foreign currency transactions, and most of the money was remitted abroad, according to the Financial Supervisory Service (FSS).

The FSS has been conducting inspections into the two lenders, as they reported to the watchdog that their local branches handled abnormal overseas money transfers worth a combined 2.5 trillion won. (Yonhap)