Add this share buttons at top header

Friday, July 21, 2017

Second largest Universal Bank hit by an internal fraud - another woman did it

Ad Majorem.....Wealth Builders

Rizal Philippines
July 21, 2017

BANK FRAUD. Bank officer Maria Victoria Lopez uses a scarf to hide her face at an NBI news briefing on the Metrobank internal fraud case on July 21 2017. Photo by Inoue Jaena/Rappler
                                The suspect, Ma.Victoria Lopez hides face while presented at press con


Image result for Metrobank + URC bank scandal
                                  ABS CBN - how the NBI caught the lady executive in MBTC scam
The second largest bank in terms of resources was hit by an internal fraud and allegedly perpetrated by a woman. with a rank of  vice president.  earning about P250,000 a month.  Losses were estimated to be P900 million but could be as high as P2.5 billion.  The lady officer has been arrested by NBI and was alleged to be not cooperating.

She was alleged to have siphoned off amounts from the credit line of URC and has been transferring the loot to other accounts.   The NBI as advised and the officer was caught in an entrapment operation.   Another lady a branch manager was involved in the money laundering  case at RCBC.

The lady officer could be tried for qualified theft and violation of banking laws.  The scam involved unauthorized drawdown from the credit line  of a bank client.  The suspect was caught shifting the interest payment to the subject bank loan (we were hit by same type of scam;  the suspect is still scott free)

The Metrobank shares dipped 4% at the stock market. But Col Financial still recommended a buy for Metrobank. Metrobank assured the public that the amount involved would not affect its P1.9 billion resources.

Again we emphasize control, proper hiring emphasizing I of PIC (Integrity) and never be complacent that women are incapable of committing crimes.

No comments: