SC Bank punished for illegal loan service
Seoul - Yonhap
South Korea's financial watchdog said it has decided to penalize SC First Bank for its violations of local banking laws such as the illegal handling of metal loan services to corporate customers. The Financial Supervisory Service (FSS) said it will impose fines worth 4.5 million won (US$4,225) and punish 41 officials of the South Korean unit of Standard Chartered Plc after the bank violated regulations on metal lending and made other irregularities.
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