Losses and lawsuits

Loss Database

Woori Bank

Officials at Woori Bank in South Korea announced on April 8 that two senior level employees had embezzled approximately 40 billion won ($35.4 million) from the bank’s coffers and fled the country. The bank estimates that the misdeeds at the country’s second-largest bank occurred over a period of several months between December 2003 and March.

The bank conjectures that the two, who have been identified only by their surnames – Park and Oh – first diverted 4.6 billion won ($4 million) of

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Investment banks: the future of risk control

This Risk.net survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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