Vietnam Commercial Bank Scam

Vietnam fell into troubled scenarios so it definitely needs to be almost cautious and careful just for not to discourage the in or to a foreign countries especially the ones who are across the sea investors regardless of the Property tycoons or Property in industries.Those pity investors who are in foreign countries or others, they simply do not just want to feel or make assumptions that they are putting those hard earned holiday earnings to fall into an economy which simply is governed by easy corruptions and those sometimes false investors will be even more discouraged or also deterred when such incidents happen of Pham Cong Danh whom we considered that the country is also such a promising prospect. Forgery and altered cheques such attempts could also be made by Vietnam Commercial bank scam – dishonest people who can also be one of the property tycoons.The action of forging a copy or more copies or simply imitation of any documents or it can also be signatures or can also be banknotes and or work of arts.

Fraudsters or those dishonest persons have altered cheques to just make a small change the name simply in order to deposit cheques or for such intended for payments to someone else and also the amount on the faces of cheques just by doing simple altering which can change some few dollars into more or multiple of dollars, example $100.00 into $100,000.00, although those transactions of this or such values are always subject to investigation just as a precaution to simply prevent such fraud as policy.Instead of the illegal act of touching or making changes to something when you should not or by tampering with a real cheque, criminals like fraudsters may alternatively or always copy or imitation of a document, signatures etc. to attempt to forge a sincere depositor’s signature on a simply blank cheque or even can print their own cheques which are drawn on accounts or owned by others and also non-existent accounts, etc.

They would surely and subsequently cash the fraudulent or false appearing cheque through other banks and also withdraw the money or cash before the banks realizes that the cheque was simply a fraud.There are plans in Vietnam a foot to change all of this, a test even though they are tycoons. Vietnam Commercial bank scam for example a new government was elected earlier some years back and the country was or is hoping that things will be able to steer such things to more robust and easy economic times and in line trustable with the rest of the world.The hopeful bank people or public believes in foreign ownership limits concepts also just which might be lifted very easily or with difficulties in the banking sector and that regulation will become more strict or firm or also stringent.Accounting fraud are such that in order to simply hide some serious financial problems then some businesses will have been also known to use fraudulent or false or dishonesty bookkeeping just to overstate sales and save incomes, one should inflate the worth of those company’s assets once or state the results of a profit when the company is operating almost at a loss.

These such tampered records are the examples of which are useful and are then used to seek investments in the company’s bonds or also security issues sometimes or can also make fraudulent or false appearing loan applications in a small or large final attempts to obtain more or most money just to delay the inevitable possible collapses of an unprofitable or also said to be mismanaged firm. There are several examples of accounting frauds such as enron or worldcom or Ocala fundings. Similarly if Vietnam banks would had take steps to protect themselves from false people like property tycoon Pham Cong Danh then they would get exposed along with their fellow people or Directors of Bank. Some companies or banks just cooked the books concept in simple order to appear as fantastic and though they had small amount of profits each quarter when in fact they were deeply in debt.Economic reforms is also vital but, it’s a good exposure of thefts done by Pham Cong Danh and his fellow Directors, that could be just around the corner.

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Category: Blog

- September 11, 2016

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