Bank staffer arrested after siphoning tens of millions of baht from Pattaya expats

[RJRS1301]

1 hour ago, Matreusse said:

How could the bank control unofficial, obsolete documents and passbooks that the asst. manager was issuing illegally and independently to customers that were, obviously not being entered into the banks records?   

 

As I have not heard of any other examples of what this manager was doing, I'm sure that it is a one-off so far, yes.    If you have examples of this not being the first of its kind at this bank I'm sure you will detail them.

They should have gathered in all the obsolete  passbooks and documents (governments and other organisation do it all the time) for destruction to begin with.

Document management is an esstential part of good governance and risk management. Central document control is also part of good management.

You can bet there is now a scramble to do this, and heads should roll that this occurred.

I am glad you are SURE this is a "one off" , I am not so sure at all, more could come to light.

The scam is reflective of poor management.

 

 

[Matreusse]

1 hour ago, dabhand said:

1 hour ago, Matreusse said:

How could the bank control unofficial, obsolete documents and passbooks that the asst. manager was issuing illegally and independently to customers that were, obviously not being entered into the banks records?   

 

As I have not heard of any other examples of what this manager was doing, I'm sure that it is a one-off so far, yes.    If you have examples of this not being the first of its kind at this bank I'm sure you will detail them.

Expand  

Seems he had his finger in another pie, that of money transfers from abroad, based on this report. Although it has not been mentioned in the other news articles. If correct, this is rather troubling to say the least.

 

https://truecrimethailand.com/10s-of-millions-of-baht-embezzled-from-farang-bank-accounts-in-pattaya/?fbclid=IwAR0eTMpGIIfeTq4-wgwJS5D618sBBUTYiDFUuXShNepubRXg

That sounds like the originally reported story with, either, more specific detail or a different translation/interpretation put on it.   If it was an additional offence it, surely, would have been mentioned as such just as the mutual fund recommendations were also noted.

[Matreusse]

39 minutes ago, Chivas said:

I recall getting somewhat abused when I said around about 2 years ago that this was always a risk with all Thai banks and especially when I found out some are actually franchises

Such as?  Which Thai banks offer the purchase of franchises?

[Matreusse]

11 minutes ago, RJRS1301 said:

I am glad you are SURE this is a "one off" , I am not so sure at all, more could come to light.

I am sorry that you are not so sure?  Have there been any reports coming to light of this offence happening elsewhere in Thai banks?

[AlfHuy]

1 hour ago, jacko45k said:

When the farang asked the bank about the money, it turned out that the bank book and the record of transfer were counterfeit or outdated books.

So these bankbooks never went into an update machine?

They were probably updated through bank manager's coffee machine.

[dabhand]

6 minutes ago, Matreusse said:

That sounds like the originally reported story with, either, more specific detail or a different translation/interpretation put on it.   If it was an additional offence it, surely, would have been mentioned as such just as the mutual fund recommendations were also noted.

Yes indeed. As you say, there was mention of the transfers but that has been over shadowed by the investment part of the scam with the excessive interest rate being offered.

 

To my mind the transfer issue should be of more concern as it is clearly a bank related issue rather than the 'too good to be true' investment opportunity.

[Matreusse]

5 minutes ago, dabhand said:

To my mind the transfer issue should be of more concern as it is clearly a bank related issue rather than the 'too good to be true' investment opportunity.

Absolutely, if that one-off report is accurate in its description of events.  Has its interpretation been confirmed anywhere else, independently?

[dabhand]

3 minutes ago, Matreusse said:

Absolutely, if that one-off report is accurate in its description of events.  Has its interpretation been confirmed anywhere else, independently?

 

The link in that 'truecrimethailand' report is based on this khaosod news article. It may be that all the press reports originate from the same source but with. perhaps, some minor changes due to translation issues.

 

In any event, it will be interesting to see what next transpires. Hopefully it doesn't go the way of so many stories and just disappear.

 

https://www.khaosod.co.th/crime/news_5869719

[Matreusse]

1 hour ago, dabhand said:

 

The link in that 'truecrimethailand' report is based on this khaosod news article. It may be that all the press reports originate from the same source but with. perhaps, some minor changes due to translation issues.

 

In any event, it will be interesting to see what next transpires. Hopefully it doesn't go the way of so many stories and just disappear.

 

https://www.khaosod.co.th/crime/news_5869719

It's interesting reading but that anonymous, sensationalist website is nothing more than a "translator" of Thai news reports (using Google Translate, initially!), which is then interpreted by the anonymous author/owner of the site.   I wouldn't put any more faith in its accuracy or veracity than I would in any tiresome UK red top rag!

This is from its "About" page...

 "A quick note on our process for daily stories: We scour 20+ publications in the Thai language and find the best stories of the day. When we find a great story, we’ll run it through Google translate to get the facts of the Who, What, When, Where, Why — the brass tacks details. Then we’ll slowly translate the details from Thai and use the assistance of a few Thai friends that provide insight and clarity where needed".

[jacko45k]

3 hours ago, scubascuba3 said:

I reckon they did but using his computer somehow showing fake transactions 

The likelihood of someone using a 'public' update machine would be very high. There is more to this!

[hellohello123]

Wait ! So having your cash in

- the banks is dangerous

- under your mattress is dangerous

- anywhere near a Thai girl is dangerous

 

Might as well burn it

[colinneil]

Just now, hellohello123 said:

 

- anywhere near a Thai girl is dangerous

 

Might as well burn it

What a ridiculous comment, many thousands of Thai girls are 100% honest, i am married to 1 like that.

I got a new card on the 12th of december last year, ( well my wife got it for me)

My wife has had the card since, yesterday she gave me the A.T.M. slip showing me what she had drawn out, exact to the baht what i told her to draw out.

 

[RJRS1301]

2 hours ago, Matreusse said:

I am sorry that you are not so sure?  Have there been any reports coming to light of this offence happening elsewhere in Thai banks?

It appears you lack basic comprehension.

I said am NOT sure. That in no way indicates any knowledge of any other similar scams, it means I am NOT SURE this is the first or last time.

Do you now comprehend?

 

[Matreusse]

18 minutes ago, RJRS1301 said:

2 hours ago, Matreusse said:

I am sorry that you are not so sure?  Have there been any reports coming to light of this offence happening elsewhere in Thai banks?

It appears you lack basic comprehension.

I said am NOT sure. That in no way indicates any knowledge of any other similar scams, it means I am NOT SURE this is the first or last time.

Do you now comprehend?

I understood very clearly before, that's why I said, specifically,

"I am sorry that you are not so sure?"! 

[scubascuba3]

53 minutes ago, colinneil said:

What a ridiculous comment, many thousands of Thai girls are 100% honest, i am married to 1 like that.

I got a new card on the 12th of december last year, ( well my wife got it for me)

My wife has had the card since, yesterday she gave me the A.T.M. slip showing me what she had drawn out, exact to the baht what i told her to draw out.

 

how about the 2nd ATM slip? presumably you can check using the bank app anyway

[colinneil]

Just now, scubascuba3 said:

how about the 2nd ATM slip? presumably you can check using the bank app anyway

Behave yourself, 2nd slip why?

If my wife was dishonest, she would have taken money long before now, never taken 1 baht from me.

Never asked me for money in 10 years, 7 years ago while in hospital, unknown to me my card had expired in january, i only found out at the end of april, when i got home from hospital.

How have you been paying the bills, i asked, i used my money she said.

[scubascuba3]

2 minutes ago, colinneil said:

Behave yourself, 2nd slip why?

If my wife was dishonest, she would have taken money long before now, never taken 1 baht from me.

Never asked me for money in 10 years, 7 years ago while in hospital, unknown to me my card had expired in january, i only found out at the end of april, when i got home from hospital.

How have you been paying the bills, i asked, i used my money she said.

my point is everyone should have online banking and preferably the bank apps on the phone, you can then keep an eye on any fraud or skimming which could occur

[Rimmer]

Off topic post and replies removed

[Leaver]

5 hours ago, colinneil said:

What a ridiculous comment, many thousands of Thai girls are 100% honest, i

 

That's true, but there are are around 35 million Thai girls in Thailand, so "thousands" of honest Thai girls is not a good percentage.   ????

[Jingthing]

I have a hypothetical question about this horror show at the ha ha mystery bank.

 

Supposing you went in to this ha ha mystery branch and had encountered the accused fraudster. He made his pitch and you might have thought WOW that's a fantastic return but I need to do due diligence before investing.

 

So suppose you called the national customer service number for the ha ha mystery bank and asked them, does your bank offer such an account that pays 3.5 percent per month, or not?

 

What do you think a customer service person would have said to that question? 

 

What if you told them, well at ha ha mystery branch of YOUR ha ha mystery bank I have been offered this financial vehicle?

 

Would they have elevated this as an internal investigation?

 

Do you think even one of the people that got taken by this even bothered to try such a basic attempt at due diligence? 

[jacko45k]

2 hours ago, Jingthing said:

So suppose you called the national customer service number for the ha ha mystery bank and asked them, does your bank offer such an account that pays 3.5 percent per month, or not?

What is their number and do they speak English.... ?

I can only say I have been drawn into a similar Ponzi scheme, and it was not by phoning any authority, but coming on the recommendations of people already involved (who had yet to see anything wrong obviously).... 

Had the guy been sat in a major bank office, with his name on the door and all the tellers 'waiing' him respectfully as he passed, I would have been somewhat less  reticent. 

[Caldera]

3 hours ago, Jingthing said:

Do you think even one of the people that got taken by this even bothered to try such a basic attempt at due diligence? 

 

I think it's fair to say that people who fall for such a 3.5% per month scheme aren't familiar with the concept of due diligence. In fact it is such an outrageous offer that you don't even need to do due diligence and can dismiss it outright, halfway through through the pitch.

 

Still it's an interesting hypothetical question. I don't think a customer service rep at their call center would flag this. They would probably just assume it has been a misunderstanding. If the same rep has to deal with several similar calls within a short period of time, on the other hand, then who knows!

 

[jacko45k]

17 minutes ago, Caldera said:

Still it's an interesting hypothetical question. I don't think a customer service rep at their call center would flag this. They would probably just assume it has been a misunderstanding. If the same rep has to deal with several similar calls within a short period of time, on the other hand, then who knows!

Apparently it went on right under the nose of another manager in the same branch, so some call centre might be slow to react... don't they work by the rules of 1) Deny, 2) Appease 3) Ignore?

[scubascuba3]

4 minutes ago, jacko45k said:

Apparently it went on right under the nose of another manager in the same branch, so some call centre might be slow to react... don't they work by the rules of 1) Deny, 2) Appease 3) Ignore?

With anti money laundering regs I'm pretty sure it's a crime if you know but don't report, in this case if staff pretended they didn't know something was going on they are embroiled in it, but this is Thailand 

[4MyEgo]

On 2/3/2021 at 4:39 AM, Jingthing said:

Obviously any perps should have to face the consequences under the law, but I'm wondering, in a situation like this where people weren't putting their money in normal bank financial vehicles, is there really much chance that the bank in question will be legally obligated to pay the money back? 

 

Some bigger banks in the west have compensation funds for giving bad financial advice to their customers, there have been a few banks sued in Australia over this and hawking, i.e. bank staff offering financial products for issue or sale in the course of, or because of, an unsolicited meeting or telephone call with a retail client, this practice has been banned in Australia, but this in Thailand and anything goes.

 

Wish them luck in getting their money back, I do feel for them, lesson learned, I only transfer a lump sum to live on annually, the rest stays abroad as I know the government has strict laws on bans back home an the banks will cough up if something like this happens, past history. 

[polpott]

17 minutes ago, jacko45k said:

Apparently it went on right under the nose of another manager in the same branch, so some call centre might be slow to react... don't they work by the rules of 1) Deny, 2) Appease 3) Ignore?

The person who tried to sell the deal to me made it clear that the guy would come round to my house, no need to go to the branch. I also got the impression that she would receive commission for introducing me.

[zoza]

24 minutes ago, Caldera said:

 

I think it's fair to say that people who fall for such a 3.5% per month scheme aren't familiar with the concept of due diligence. In fact it is such an outrageous offer that you don't even need to do due diligence and can dismiss it outright, halfway through through the pitch.

 

Still it's an interesting hypothetical question. I don't think a customer service rep at their call center would flag this. They would probably just assume it has been a misunderstanding. If the same rep has to deal with several similar calls within a short period of time, on the other hand, then who knows!

 

i got a message from my internet provider informing me i had not paid for three months, i checked online , and all the payments had been paid, i made copies and sent them to 3bb

next month i got another message that i had not paid?

i contacted (K K) and asked what was going on ? they told me the payments had been made.

after about six weeks of trying to get any explanation, i went into my account and canceled 

the payments, while doing so as i went through the details i spotted a mistake in the direct debit were it asked for I D number were it should of asked for membership/customer  number, i phoned the bank and informed them of the error, i think if i had not sorted it , it would be the same today, i was told that when a mistake happens someone looses face so

they tend to ignore these things...who knows...deffo not the same as the real world.    

[jacko45k]

14 minutes ago, polpott said:

The person who tried to sell the deal to me made it clear that the guy would come round to my house, no need to go to the branch. I also got the impression that she would receive commission for introducing me.

She? I thought this was a male manager. Or do you talk of another instance? Or do you suggest other branch bank staff were passing customers towards this male manager, who would then deal from home?  That in itself a red flag.

That make them complicit and also guilty. 

Edited February 6, 2021 by jacko45k

[polpott]

3 hours ago, jacko45k said:

She? I thought this was a male manager. Or do you talk of another instance? Or do you suggest other branch bank staff were passing customers towards this male manager, who would then deal from home?  That in itself a red flag.

That make them complicit and also guilty. 

"She" was the woman on my estate who had already put 2 million baht into the scheme and went round the estate recommending it to others.

[jacko45k]

2 minutes ago, polpott said:

"She" was the woman on my estate who had already put 2 million baht into the scheme and went round the estate recommending it to others.

Ah OK... was  she on a commission perhaps?