Vietnam Bank involved in the largest fraud case, capital injection of 187.2 billion may be a secret to the national treasury

According to a Reuters report on Wednesday (17th), Vietnam’s Central Bank is actively responding to the consequences of the largest financial fraud case in the country’s history. The fraud involved billions of dollars and had a serious impact on Vietnam's financial system and national image.

According to reports, the Vietnamese government has injected approximately VND187.2 billion in funds to rescue affected banks. This amount of money is close to 1/4 of Vietnam’s foreign exchange reserves, which shows how seriously the government takes this matter.

Unprecedented banking crisis

This fraud case caused an unprecedented crisis for Vietnam's banking industry, and many banks were in trouble as a result. The Central Bank of Vietnam must actively intervene to avoid further collapse of the financial system.

Foreign reserves continue to threaten the national treasury

Vietnam’s continued decline in foreign exchange reserves poses a serious threat to the national treasury. The government must take effective measures to ensure the country's financial stability and economic development.

Government response

• Strengthen the risk management capabilities of supervision and monitoring financial institutions.
• Strengthen the crackdown on financial fraud and improve the enforcement of laws and regulations.
• Strengthen financial education and publicity to raise public awareness of financial risks.

In general, the Vietnamese government and central bank will strengthen the stability and transparency of the financial system and create a more favorable environment for Vietnam's economic development by actively responding to the consequences of the country's financial fraud cases.