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More clients denounce ACB’s breaking into personal accounts
One more investor, Pham Thi Ngoc Son from Dong Nai province, has lodged a complaint to Asia Commercial Bank, asking the bank to pay back the sum of money that the bank deducted from her account. Son, citing several laws, has affirmed that ACB violated current laws in spontaneously entering investors’ accounts.
Son said that on December 9, after a purchase transaction, her account balance had VND 179 million. However, when checking the account at 10:00 am on the same day, she found that her account balance dropped to VND 17 million, even though she did not make any transactions during that time.
At 11.30 am of the same day, Son received a call from a person who said he was calling from ACB’s head office. Son was told that since she purchased gold at the low price (Son purchased 10 taels of gold at VND 17,000/tael), ACB spontaneously re-sold the volume of gold, to ACB’s account, and at VND 17,000/tael.
Son said that in fact, her account did not have gold at that time, because she sold the gold she purchased immediately. However, “with its technique, ACB still could strip VND 160 million from my account.”
Son believes that ACB has violated articles of the Credit Institutions Law and Online Transactions Law, as ACB spontaneously entered investors’ accounts and made transactions from investors’ accounts without the consent of investors.
Son said that she does not agree with ACB’s explanation that ACB needed to do that to repair the errors of employees, stressing that she does not have to take responsibility for the mistake.
“When transactions have been completed, none of the involved parties can spontaneously change the transactions,” she said.
This comes in line with the contract compiled by ACB itself. Articles 14 and 15 say that ACB and investors need to follow transactions after the orders are matched.
Son has insisted that ACB has to restore the initial status of her account and compensate for its violation.
Son said that on December 13 she went to ACB’s branch in Dong Nai province three times to make complaints about her case. Meanwhile, Son said that the later the bank deals with investors’ complaints, the bigger losses investors will incur, as the gold prices have been fluctuating heavily. The gold price exceeded the VND 17million/tael threshold on the evening of December 11.
Meanwhile, investors have been contacting local newspapers, complaining that they can not repair mistakes when the incorrect price has been entered into a transaction.
Hoang Phuoc, an investor on the ACB gold trading floor, related that on December 10, instead of placing the orders to sell at VND 16.358mil/tael, he wrongly entered the price at VND 16.258mil/tael. Phuoc’s order was matched, and Phuoc incurred a loss of VND 580,000.
VNE, VietNamNet
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