The Financial Services Commission said it paid a total of 400 million won in rewards for seven reports of accounting fraud this year as of the 25th. This represents an increase of 1.6 times compared to the same period last year. For one report that provided crucial information leading to the detection of accounting fraud, a record reward of 200 million won was given.
The Financial Services Commission assessed that the recipients of the rewards played a significant role in detecting and addressing fraudulent activities by submitting evidence related to violations of accounting standards by corporations. Among the reports, three were subject to a penalty surcharge of 3.08 billion won for violations of accounting standards, while two reports concerning intentional accounting manipulations were referred to law enforcement agencies.
According to the Financial Services Commission, the number of reports of accounting fraud has steadily increased over the past five years. The figures are as follows: 125 in 2021, 130 in 2022, 141 in 2023, and 179 in 2024.
The Financial Services Commission believes that the reward system funded by the government budget for reports recognized as helping to detect and address accounting fraud since 2019 under the External Audit Act has had an impact.
A Financial Services Commission official noted, "In the future, we will continue to provide rewards for reports that contribute to the detection and resolution of accounting fraud. We urge corporations to actively report any accounting irregularities they become aware of to enhance accounting transparency."