Assets of financial holding companies increased 7.4 percent in the first half compared to six months earlier as demand for loans rose, Financial Supervisory Service (FSS) data showed Tuesday.
The difference with past scams is that the latest scam asks the victim to send the serial numbers of gift cards rather than sending the money by wire. Google replied "You can educate your mother to not trust anyone online."
The banks and securities companies that sold the problematic funds structured by Lime Asset Management announced Friday they will nullify the investment contracts of trade finance funds and fully compensate their investors.
KB Securities was fined 3.8 billion won ($3.2 million) for not handling customer data properly and violating more than one capital market regulation.
With trillions of won locked up and possibly lost as a result of massive failures in private equity, the heads of the country's two financial regulators have apologized and promised that all operators in the business will be inspected.
Optimus Asset Management made billions of won in illicit transactions, embezzled money and deceived investors and brokerages, the Financial Supervisory Service (FSS) announced Thursday.
The Financial Supervisory Service (FSS) officially launched a full-fledged probe into all private equity funds. The investigation is expected to continue until 2023.
Moneylenders have been targeting teens and charging them high interest rates for small, quick loans.
The financial companies that sold a dud Lime Asset Management fund to unsuspecting investors are on the hook for 100 percent of the losses, the Financial Supervisory Service (FSS) advised.
A recent boost in the popularity of small-scale investments triggered by the coronavirus outbreak has led to a growing number of people joining unofficial and unregulated services where they pay someone to tell them where to invest their money.