Bank of Communications (BoCOM), one of China's major commercial
banks, said on Saturday that it has found out a financial fraud
case involving about 200 million yuan (US$25 million) in one of its
branches in a recent self-examination.
"We have found out a case in which customers was defrauded of
their money in our branch in Shenyang, capital of northeast China's
Liaoning Province," said a BoCOM spokesperson in Shanghai.
The case was exposed when the BoCOM was carrying out a new round
of self examination and having its customer information management
system upgraded, said the spokesperson.
Initial investigation shows the case involved about 200 million
yuan, said the spokesperson, who gave no further details. However,
the bank claimed that it had immediately reported the case to the
police and had taken all necessary measures to reduce losses.
China's fifth largest lender, the BoCOM was listed in Hong Kong
in June 2005 and became the first major commercial bank from the
Chinese mainland to be listed overseas.
(Xinhua News Agency June 11, 2006)