[revealer]

A number of village banks in Henan, Anhui and other places in China have reported missing 120 million Yuan customer deposits in April 2022.  It is now found that the missing deposit is about 40 billion yuan (397亿) or about SGD 8.2 billion and involved more than 5 banks and still counting.

https://twitter.com/S7i5FV0JOz6sV3A/stat...8288992256

[revealer]

河南多家村镇银行400亿存款暴雷，百度、小米、360或牵涉其中






https://finance.sina.com.cn/money/bank/b...5130.shtml

[Omnipresent88]

https://media.tenor.com/images/62e78b073.../tenor.gif

[Oasis]

Welcome to deposit in Singapore banks.

[sgbuffett]

This one is bank employees collude with wealth management product companies and sold the stuff to customer....and money was lost.

It's not "stolen from bank".

Correct?

[grotesqueness]

This one is bank employees collude with wealth management product companies and sold the stuff to customer....and money was lost.

It's not "stolen from bank".

Correct?

yes 
it is not stolen

it is siphon

[sgbuffett]

Based on the descriptions of many depositors, they purchased the Internet deposits of the above-mentioned village banks through apps such as Du Xiaoman, JD Finance, Tianxing Finance (formerly Xiaomi Finance), and You Wealth under Digits. The annualized interest rate ranges from 4.1% to 4.9%. . Later, due to the rectification of Internet deposits by supervision, the above-mentioned third-party Internet financial platforms successively removed related deposit products in December 2020. In January 2021, the China Banking and Insurance Regulatory Commission and the People's Bank of China jointly issued the "Notice on Regulating Commercial Banks' Personal Deposit Business through the Internet" (hereinafter referred to as the "Notice"). The "Notice" clarifies that commercial banks are not allowed to conduct fixed deposits and fixed-life dual-convenience deposits through non-self-operated online platforms. Affected by this policy, some depositors have been diverted from the Internet financial platform to the WeChat applet of the bank to directly purchase deposit products. According to the information provided by the depositor Mr. Zhou, he received the Zhecheng Huanghuai Rural Bank, and the short message linked the website of the Chenghuanghuai Rural Bank's applet, through which he could enter the bank's official account applet. A variety of deposit products have been purchased in the applet. From April 18th to 19th, 2022, four rural banks, Yuzhou Xinminsheng Rural Bank, Shangcai Huimin Rural Bank, Zhecheng Huanghuai Rural Bank and Kaifeng New Oriental Rural Bank, successively issued announcements to remind the system to upgrade. The system will be upgraded and maintained, and online banking and mobile banking services will be suspended.

This means that the village banks involved closed the online withdrawal and transfer channels without warning, which caused panic among depositors.

[Blin]

Ave 70 bucks per acct. small change.

[kokee]

all these know nut comie dogs bark from ass without evidence, fake, lies, FLG but no proof, norm, all these BS liars.
SSE, what top in 2007 at 6000? 6000 is adjusted, if they are really in the market long enough, real number is around 6400.
same to above henan banks, anhui also happening, this case started almost months ago.


存银行的钱不让取了？河南安徽涌现金融难民

RMB 70 per acct? comie dogs head shorted.

these slavery cant do & balless to do anything, no law to protect them, too bad.






血本無歸！河南4銀行客戶存款清零 涉款幾百億！苦主去示威健康碼突變黃寸步難行 

[Rubitin]

only Banks run can tell.

[revealer]

This one is bank employees collude with wealth management product companies and sold the stuff to customer....and money was lost.

It's not "stolen from bank".

Correct?

According to the description,  it was the customers' deposits that went missing.   These customers are mainly those who deposited their money through online platforms using apps offered by Baidu, Xiaomi or China Insurance related companies.   Most of the customers are outstation customers.   

The mastermind behind the scam had gone missing with the money.  

According to the Police report,   The relevant banks cooperated with a local company that was found dealing with public deposits illegally.  They are still investigating.  

警方回复储户时表示，"初步发现相关银行和河南新财富集团投资控股有限公司合作，后者涉嫌非法吸收公众存款，目前已处于立案侦查阶段"

The text said if this kind of deposit is found to be done through a 3rd party (第三方平台),  the depositors might not get their money back.  The text also said it was estimated there were about 800 to 1000 such 3rd party money depositing platforms presently operating in China.

[webinarian]

Based on the descriptions of many depositors, they purchased the Internet deposits of the above-mentioned village banks through apps such as Du Xiaoman, JD Finance, Tianxing Finance (formerly Xiaomi Finance), and You Wealth under  Digits. The annualized interest rate ranges from 4.1% to 4.9%. . Later, due to the rectification of Internet deposits by supervision, the above-mentioned third-party Internet financial platforms successively removed related deposit products in December 2020. In January 2021, the China Banking and Insurance Regulatory Commission and the People's Bank of China jointly issued the "Notice on Regulating Commercial Banks' Personal Deposit Business through the Internet" (hereinafter referred to as the "Notice"). The "Notice" clarifies that commercial banks are not allowed to conduct fixed deposits and fixed-life dual-convenience deposits through non-self-operated online platforms. Affected by this policy, some depositors have been diverted from the Internet financial platform to the WeChat applet of the bank to directly purchase deposit products. According to the information provided by the depositor Mr. Zhou, he received the Zhecheng Huanghuai Rural Bank, and the short message linked the website of the Chenghuanghuai Rural Bank's applet, through which he could enter the bank's official account applet. A variety of deposit products have been purchased in the applet. From April 18th to 19th, 2022, four rural banks, Yuzhou Xinminsheng Rural Bank, Shangcai Huimin Rural Bank, Zhecheng Huanghuai Rural Bank and Kaifeng New Oriental Rural Bank, successively issued announcements to remind the system to upgrade. The system will be upgraded and maintained, and online banking and mobile banking services will be suspended.

This means that the village banks involved closed the online withdrawal and transfer channels without warning, which caused panic among depositors.

It is like last time dbs sold Lehman bro product.

.

[teaserteam]

According to the description,  it was the customers' deposits that went missing.   These customers are mainly those who deposited their money through online platforms using apps offered by Baidu, Xiaomi or China Insurance related companies.   Most of the customers are outstation customers.   

The mastermind behind the scam had gone missing with the money.  

According to the Police report,   The relevant banks cooperated with a local company that was found dealing with public deposits illegally.  They are still investigating.  


The text said if this kind of deposit is found to be done through a 3rd party (第三方平台),  the depositors might not get their money back.  The text also said it was estimated there were about 800 to 1000 such 3rd party money depositing platforms presently operating in China.

Never knew their banking system so "lang" one.  Some more 800 to 1000 illegal depositing platforms waiting to explode anytime.

[revealer]

Ave 70 bucks per acct. small chan

This guy named Yang said he has deposited  2 million yuan..and there is no way he could withdraw the money.  It just disappeared.  It has been 45 days and there was no action done to get his money back.

This webpage gave a lot of information about the lost money and deposit.  Some bought special deposit products using apps offered by legitimate online platforms.  The platforms clarified that those products are products from the banks and not from 3rd party.  They signed agreements with the banks and made sure that the products have the bankers' guarantees etc

http://www.myzaker.com/article/62995e0d8e9f095fe1611dae

[Blin]

This guy named Yang said he has deposited  2 million yuan..and there is no way he could withdraaw the money.  It just disappeared.  It has been 45 days and there was no action done to get his money back.

This webpage gave a lot of information about the lost money and deposit.  Some bought special deposit products using apps offered by legitimate online platforms.  The platforms clarified that those products are products from the banks and not from 3rd party.  They signed agreements with the banks and made sure that the products have the bankers' guarantees etc

http://www.myzaker.com/article/62995e0d8e9f095fe1611dae

"In order to cheat victims , victims must be convinced." elementary sop.

[Sharexchange]

Part of it i suspect already bought a 20 condo units here liao..

[RiseofAsia]

Part of it i suspect already bought a 20 condo units here liao..

Ah Xi has already caught quite alot of them but still have 漏网之鱼。

[Sharexchange]

Walao eh...乌鸦一般黑 la

[teaserteam]

"In order to cheat victims , victims must be convinced." elementary sop.

Most have been brainwashed only to trust the Government and the brands;  so buying from Baidu,  Xiaomi, and China Life Insurance brand is always safe.  They check everything,  always right until the money gone missing.  This happens also in Singapore.

[revealer]

https://www.sohu.com/a/548730890_120804383

[revealer]

Sohu News is a very popular new media in China.   This article in Sohu News tells people how to avoid depositing money in risky banks.   It tried to find out if the few troubled banks in Henan incident is on the "China Financial Stability Report" published by the Central Bank.
\
Here is the summary of the news article

In the 2021 "China Financial Stability Report", it said the central bank disclosed that among the 4,023 banking institutions, only 2% or about 83 banking institutions are no-risk banking institutions.

There are 2,168 rural commercial banks, rural cooperative banks and rural credit cooperatives, of which 271 are high-risk banks, accounting for 12.5%; there are 1,642 village banks, of which 122 are high-risk institutions, accounting for 7.43%; urban commercial banks There are 130 high-risk banks, and 10% of them are high-risk banks. Based on the above analysis, there are 406 high-risk banks.

However, the central bank has not disclosed the specific list of 406 high-risk banks, so the outside world cannot obtain the list of these high-risk banks from official channels. Whether the four village banks in Henan that have problems are high-risk banks, the outside world cannot know the exact answer.

https://www.sohu.com/a/548730890_120804383

[Ola]

Those bankers should be caned~!

[revealer]

Not confirmed yet

https://twitter.com/i/status/1535112341934571520

[sgbuffett]

Actually all these years China controls the amount of offshore Yuan and how much each citizen can change to foreign currency $50K USD.

All these currency control measures is to limit the fallout from various banking crisis and economic problems. This is like Malaysia during financial crisis declare currency controls to prevent collapse.

[revealer]

Hope there is not same problem here in Shanghai.   People are seen lining up for bank withdrawals.  Some only allowed 300 customers a day.   The queue is said to be longer than Covid testing.  Some say the ending of the Covid lockdown caused this.   ATM deposits are not allowed;  reasons:  Covid in bank notes.   

https://vct.news/news/f8824eda-ecca-4b4a...5fe29cc872