Toss Bank reported a financial incident worth 32.493696 billion won after an interbank transfer-processing error temporarily credited money that had not successfully arrived. According to a regulatory disclosure cited by Gangwon Domin Ilbo, the bank had recovered 25.205653 billion won, or 77.6 percent of the total, while 7.288043 billion won remained subject to recovery procedures. The final expected loss has not been determined.
The error occurred on October 7 during an update to the bankโs internal remittance system. For about 30 minutes, beginning at 2:20 p.m., failed transfers were returned to accounts at other financial institutions but appeared as completed deposits in Toss Bank accounts. Customers could then transfer the incorrectly displayed balances to other banks or withdraw them as cash.
Toss Bank learned of the problem through a customer inquiry rather than its own monitoring. The bank restored the system at about 2:50 p.m. and began sending transaction-correction notices to affected customers on October 12, five days after the incident. It said account balances were being corrected in sequence and established a dedicated consultation channel and a management response team.
- Error window
- About 30 minutes from 2:20 p.m. on October 7
- Detection route
- A customer inquiry alerted the bank
- System restoration
- Completed at about 2:50 p.m.
The bank also formed an information-technology internal control task force led by its chief executive. The response will need to address why monitoring systems did not detect the mismatch between failed transfers and credited balances before a customer reported it, as well as the timing of customer notices and the recovery of funds already moved or withdrawn.
Internal monitoring faces renewed scrutiny
The incident follows another processing failure at Toss Bank in March, when the Japanese yen exchange rate was applied at roughly half its normal level. That case involved 27.661295 billion won and an estimated loss of 1.250866 billion won, but it was detected through internal monitoring. The amount ultimately recovered from the October incident and any confirmed loss remain the key figures to watch.