Home » Banking & Finance » Over VND 700 billion associated with corruption in banking sector

Over VND 700 billion associated with corruption in banking sectorFrom January to May 2013, the State Bank of Vietnam (SBV) found 21 corruption cases, related to nearly VND683 billion ($34 million), over 561 taels of gold and $50,000.

The Government Inspectorate has published a preliminary report for the first half of 2013. The report highly appreciated several ministries and agencies which proactively combined with the Government Inspectorate to detect and handle many acts of corruption, such as the State Bank of Vietnam, the Ministry of Defense and the provinces of Hai Phong, Lang Son, Tuyen Quang, Ha Tinh, Ninh Thuan, Quang Ngai, Binh Phuoc and Binh Thuan.

According to the SBV’s report, in the first five months of 2013, the banking industry found 21 negative cases associated with the total amount of VND682.5 billion; 561 taels of gold (equivalent to nearly VND21 billion or $1 million) and $50,000. The authorities punished 30 banking officers, detained 14 people and dismissed two people from office.

Also in the first half of 2013, the Government Inspectorate finalized inspection of seven organizations at the guidance of Prime Minister, including the Vietnam Development Bank.

The Government Inspectorate will announce the results of the inspection before July 19.

Earlier, the State Audit Agency sent to the National Assembly the 2012 audit report for fiscal year 2011. According to the report, the State Bank of Vietnam was slow in supervising refinancing loans of the Bank of Industry and Trade (Vietinbank) , the Bank for Investment and Development of Vietnam (BIDV) and the Bank for Foreign Trade (Vietcombank).

In addition, a number of commercial banks violated the safety regulations in the January-September period of 2011 but until November 2011 the SBV set up a supervisory team. The audit results will be also officially announced in July.


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