BÁO cáo ANH văn CHUYÊN NGÀNH NHÓM 8

TODAY, WE WILL PLAY THE ROLE OF EXPERTS IN DIFFERENT FIELDS.
THESE EXPERTS WIL PARTICIPATE IN AN EXCHANGE WHICH WILL BE
BROADCASTED ON ABC CHANNEL’S FINANCIAL NEWS WITH THE
TOPIC IS THE CRISIS OF VIET NAM EXPORT IMPORT COMMERCIAL
JOIN STOCK BANK (ABBREVIATED AS EXIMBANK).
- Megan: Hello all the viewers, you are watching ABC channel’s Financial
News. Today, we have an exchange and our experts will answer the
questions about a topic that has caused panic and anxiety for a lot
of people in recent times. The topic is "The crisis of Viet Nam
Export Import Commercial Joint Stock Bank".
In order to discuss this topic, we are very pleased to invite Mrs.
Jenny, she is the Director of Finance Economics Institute of
Fulbright University.
- Jenny: Hello everyone. I am honored to be invited to our exchange today.
- Megan: Mrs. Hana, she is the Chief Economist of BIDV Bank.
- Hana: I am very happy that today is second time I am invited as a guest on
ABC channel’s Financial News.
- Megan: Next is Mrs. Nancy, she is a Lawyer with twelve years of
experience.
- Nancy: Hi, good morning everyone.
-Megan: And finally is Mrs. Mary, she is the Chief Information Security
Officer of HSBC Bank in Viet Nam .
- Mary: I hope today we bring the most useful information for you.
-Megan: Let’s start. As we know, after the end of Lunar New Year holiday,
bank employees rushed back to work as usual. Unfortunately,
shortly thereafter, many online newspapers simultaneously reported
that a vip customer of Eximbank has been lost 245 billion VND in
her savings accounts. That is a huge loss. Eximbank’s General
Director said that Mrs. Chu Thi Binh is a loyal customer and she is
one of bank’s vip customers since 2011. Sir Le Nguyen Hung,
Deputy Director of Eximbank’s Ho Chi Minh branch took advantage

of this customer in order to falsified documents and authorizations to
expropriate more than 245 billion VND from her savings accounts.
By the way, Taking advantage of Mrs. Binh’s trust, Mr. Hung
repeatedly went with his staffs to her house to present the savings
accounts matured. In fact, however, he instructed the staffs to make
false documents to withdraw money from her accounts didn’t
mature and then sent the amount to the accounts matured. In this
way, he expropriated a large amount for a long time. And Mr. Hung
has fled to foreign country since late 2016.

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Currently, Eximbank hasn’t refunded this lost money to the
customer. Eximbank took this case to the court and waited for the
court’s decision. General Director stated that if the court ruled that
Eximbank would have to refund the lost money to customer, the
bank would refund it immediately.
- Megan: We start with today’s first question for Mrs. Nancy. What do you
think about Eximbank’s decision to wait for verdict of court instead
of refunding the lost money to customer?
-Nancy: Eximbank wanted to sue Mr. Hung and waited for the verdict of
court and then refund the lost money to customer is not in
accordance with the law. According to the provisions of the Civil
Law, if an employee commits an act of misconduct that causes
damage to the customer, the employer must compensate to customer
without waiting for court’s verdict.
- Megan: Anything to add, Mrs. Hana?
- Hana: From Eximbank’s perspective, Eximbank is a bank whose shares are
traded on the stock exchange, they must consider the interests of

shareholders. Therefore, they can’t refund the lost money to Mrs.
Binh based on the results of investigation without the court’s
judgment. All things must be documented legally. However, bank is
a prestigious business, so in all cases, the legitimate interests of
customers must always be protected. If Eximbank continues to
delay, resolves to wait for the verdict, they will lose its customers.
-Megan: Some of my friends withdrew their savings from Eximbank after
Mrs. Binh’s loss. This seriously affects the capital of a bank.
- Megan: A next question for Mrs. Jenny. Some people claims that customer
also has faults in this case, because she thinks that she is an
important customer so she has the right to make transactions at
home and she trusted in Mr. Hung so she didn’t contact Eximbank
again to check information. What do you think about this opinion?
- Jenny: I don’t quite agree with the idea. Customer is faultless and keeping
money is the bank’s responsibility. Bank is the safest place both in
theory and practice. Bank has modern facility, technology and
trained personnel so they are qualified to keep the customer’s money
safe. It is obvious that vip customers have more incentives compared
to current customers. They have the right to receive many incentives
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because they bring a lot of benefits to the bank. For example, Viet
Nam Airline has private room for vip customers and they have the
right to arrive late. It is unreasonable to state that customer lose her
money because of making transactions at home. Even if customers
go to bank’s counter to make transactions that the bank employees
would like to deceive customers, customers don’t know if their
money has been transferred to the account yet. This is a transaction
within the bank’s internal system.

- Megan: Yes. I agree with you. VIP customers are always given many
incentives in any business, not just in banking business. These
incentives are very significant, because they create competitiveness
of each bank.
- Megan: Next question, I would like to invite Mrs. Nancy to answer.
According to you, is the process of controlling the withdrawal and
deposit of banks too rudimentary ?
- Nancy: Yes, it is. For example, when a customer arrives at a transaction
office of a bank to withdraw money, the transaction documents are
confirmed by a bank teller, a supervisor and then it is authorized to
pay a certain amount by the transaction office’s director. Next, the
bank treasurer checks the validity of those documents and executes
the customer’s withdrawal order. So if these three people collude for
vouchers to withdraw money from customer’s account, this will be
leaked.
- Megan: I understand what you just said. However, the process in the bank
can’t be too cumbersome because if it is too cumbersome, it will
take time for both customers and staffs. Banks always try to remove
unnecessary regulations to make customers feel comfortable and
faster.
- Nancy: In my view, the current process has many gaps to facilitate
employees to misconduct.
- Megan: Ah ha, I see I respect your viewpoint.
- Megan: We continue with a question that has legal element. I certainly have
to ask Mrs. Nancy again. Many customers who come to the banks
usually sign up very quickly the papers bank staffs give them
without reading the content due to long content. So with savings
book, what things should customers pay special attention first?
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- Nancy: When customers choose a bank to save money, they have confidence
in the bank. Each bank will have its own rules when depositing
money.
According to the regulation on savings, when depositing savings for
the first time, customers have to produce identity cards and other
documents. Many customers are too subjective to trust the bank
without reading information carefully.
My advice is that if the customers can’t read them, they have to
focus on some text. A savings account is a certificate of ownership
of a savings account.
Customers need to pay attention to the information: how much
money, term deposit, interest rates and especially the stamp, legal
signature of the tellers, treasurer of the bank. Sometimes, customers
need to pay attention to the form of papers.
- Megan: Thank you, Mrs. Nancy for useful information you just provided.
The viewers who are watching our exchange definitely remember
these note you provided.
- Megan: A first question of Mrs. Mary today. Currently, what measures do
the banks take to make sure their customers know their money has
been recorded in banking system?
- Mary: It's easy to manage the money in your account. With the current level
of information technology, most banks will use SMS banking service
every time they transfer money or send money, the SMS banking
system will update on the payment system.
We recommend that, as most people use the phone, everyone should
use this service. Or people can also use internet banking if they
regularly work on computers. Also, you can ask your bank to send
account statements, look at it you can know what is true trading in
the past one month. Typically, banks will send statements via email.

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- Megan: Yes, I also use SMS banking service to check account balance. It is
very useful. Excuse me can you explain to viewers so they can
understand what SMS banking service is? What are the advantages
of using SMS banking service?
-Mary: SMS banking service is a service that informs about the change of
bank account. This is a method of trading on the phone to help
customers know their account information for a period of time, from
the time of query back in advance.
The benefits of SMS Banking service are:
Receive immediate notice of change in account balance
Save time and money
Increase the security of your bank account
You can find out more about the ATM's of a particular bank
Get to know the bank branches nationwide when you need
Query information about exchange rates
- Megan: Thank you Mrs. Mary. SMS banking service really help customers a
lot. I think if customers have deposit transactions with banks, they should
register this service. Mrs. Hana, How can customers register SMS banking
service?
- Hana: For customers who do not have a bank card: To register for SMS
Banking, customers need to have a card account. Please bring ID
card to the branch of the bank which customers select, closest to you
to open a card account, and also register to use SMS Banking.
For customers who have a bank card but have not registered to use
SMS Banking, please bring your ID card to the nearest bank /
transaction office for registration support.

SMS Banking, customers only need to register once and used for a
long time. If you change your phone number, bring your identity
card to the branch office of the bank to cancel your old number and
register your new phone number.

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-Jenny: SMS banking service is almost used to check the deposit account. If
customers want to check the money in savings account by this
service, they must compile another grammar structure message.
Having learned by experience from Eximbank’s customers has been
lost money, many Commercial Banks in Vietnam started to increase
in protecting customers.
The first is Maritime bank. It introduced the way to compile detailed
the saving accounts through the web of this bank. To check the
situation of their saving accounts, customers only need to access to
the website of the bank, click the symbol “saving pig” at the right of
the screen. You can see this is the website of Maritime bank. Look
at the right of the screen, you will see this symbol. After clicking at
this symbol and adding some needed personal information,
customers will look up all information about the saving account
including: name of the owner, the initial amount of money, the
current amount of money, date of saving, due day, period, interest,…
User can check the situation immediately without doing any
procedure.
-Megan: The next question for Mrs. Hana: Central Bank with the role of
regulating the macro economy, what actions have they taken after
the vip customer has been lost 245 billion VND?
- Hana: Central bank requires Commercial Banks to review, supplement and

tighten internal procedures related to capital mobilization and credit,
especially the relationship with customers. At the same time, Central
Bank also requested the inspector to inspect the Eximbank’s branch
which had caused this incident.
- Megan: I would like to provide more information that after inspecting
Eximbank’s Ho Chi Minh branch, where Mr. Le Nguyen Hung was
Deputy Director, the police arrested Ms. Ho Ngoc Thuy and Ms.
Nguyen Thi Thi. According to a member of Eximbank’s
Administrative Council, they didn’t appropriate Mrs. Binh’s money
but they received the documents and confirmed the authorizations
from Mr. Hung without the presence of Mrs. Binh. Through this,
not only Eximbank’s employees but also other banks employees
began to fear because of the same negligence in their work process
as the two arrested employees of Eximbank.
- Nancy: I think the bank employees to do the following three things:
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Firstly, they should be equipped with legal knowledge and
understand the business process. Secondly, they need to brave and
say no to the wrong directions of the superior. Finally, they should
carefully check before signing any documents, whether it is a main
signature or minor signature.
- Megan: This is a very important advice at this sensitive time.
-Megan: We turn to a question about technology of banks. Some people
suggested that banks should change technology to prevent bank
staffs from exploiting technology gaps to appropriate deposits of
customers. What do you think about this suggestion?
- Mary: In Vietnam, most banks are still using old core banking from Russia,
Korea ... for security. Old technology has certain holes.

I also participate in information security activities for some banks.
When I went to check the IT system for a bank, I accessed an
account of the trader and took over the right of the branch chief,
checking the statement ...I recommend to buy the new core banking
to update.
The next issue besides technology is human. People can completely
fake hand signatures, so banks should apply transactions with
electronic signatures, digital signatures, no matter who the customer
is. As in foreign countries, VIP customers use digital signatures.
- Megan: The case hasn’t been satisfactorily resolved , another customer Mrs.
Bui To Loan reported that she has been lost three gold ounces
while she has hold her savings book.
Shortly thereafter, Eximbank continued to receive denials from six
customers. They reported that they have been lost a total of 50
billion VND in their savings accounts. There are two customers
have been lost more than 30 billion VND.
- Megan: Eximbank has been continuously accused of losing money in their
customer’s savings accounts, which has caused a crisis in this
bank. What are the signs of this crisis? Mrs. Jenny

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- Jenny: Crisis is the sudden change or the reason of process, causing an
urgent problem which needs to be solved immediately. With a bank,
crisis can cause sudden and serious damage for reputation, revenue,
asset, staff…
The signals of a crisis at Eximbank:
Firstly, the long-lasting complaint from customer. When your
customers complain about the dangerous situation related to the

services or methods of selling, it’s the clearest warning about the
crisis.
Secondly, the undisciplined manage standards. Eximbank established
process having many gaps, which let some people such as vice
manager, manger, staff, etc appropriate money from customer.
Furthermore, they are the people who understand about the
undisciplined standards and can cause the damage for the bank.
Thirdly, the violation about the responsibility for vesting. Perhaps,
responsibility for vesting is the biggest signal about the crisis in the
belief at this bank, because this duty is protecting security of capital
as well as giving responsible financial advice.
Fourthly, the decrease in capitalizing on stock market. The share
price of Eximbank falled at many times, which blew away thousands
of billion Vietnam dongs of this bank.
- Megan: With the signs of the crisis, Mrs. Jenny pointed out, according to
you which principles Eximbank must implement to prevent this
crisis? Mrs. Hana
- Hana: Firstly, act fast and decisively. The first principle in stopping the
crisis is to act quickly and decisively. What Eximbank needs to do is
to review the whole business process capital, emphasizing the
deposit process. Then, provide a full range of measures to help
depositors to check the balance of the deposit immediately and
ensure the security of the deposit.
Secondly, humans are first. Eximbank puts customers first,
including: (i) current depositors, in order to avoid loss of deposit; (ii)
customers have lost money - this is the source of the crisis at
Eximbank; (iii) human resources staff.

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Thirdly, be present at the scene. Leaders need to be present at the
scene as quickly as possible. This presence is the clear message that
these people consider the case very important.
Finally, formal communication with the media and receiving
information. Eximbank should respond to media inquiries to varying
degrees and establish a mechanism for receiving information, such
as a key spokesperson, a hotline, a detailed plan for collecting
information...
- Megan: Many customers have been lost their savings deposits at banks, so a
lot of people thought that Central Bank managed Commercial Banks
in loose way. What do you think about this statement? Mrs. Nancy?
- Nancy: The Central Bank manages the macro- level, promulgates rules and
regulations and requires commercial banks to have risk management
policies in their operations. In fact, the responsibility for the recent
loss of money belongs to the commercial banks.
I think the Central Bank has done well in its role and responsibility
when it quickly instructed and required credit institutions to review
the operating procedures and ensure the safe of deposits at bank.
- Megan: On information security, do you have any idea? Mrs. Mary?
- Mary: From the perspective of information security, I find that the Central
Bank is increasingly active. For example, the WannaCry incident in
August last year, the Central bank's information technology
department, issued early warning to banks and banking technology
companies. I think this has a very positive meaning, indicating that
the regulator is more active in order to work with the banks against
the risks and negative.
- Megan: Mary’s answer ended our exchange today. With the information we
exchanged today, it isn’t difficult to realize that banking is a risky
business. Both the bank bosses, bank staffs and their superiors also

face different risks. Bank bosses take responsibility of extracting
their profits to compensate customers if their bank staffs appropriate
customer’s money. Employees must clearly understand the
provisions of law and be careful in signing the documents given by

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their superiors even those signatures aren’t primarily responsible.
Just a bit of negligence, they face the judgment of law.
On behalf of ABC channel, I am very grateful to the experts who
have spent precious time to participate in our discussion today. We
will update the latest news in ABC’s next Financial News.
Goodbye and see you again.

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