Bank Officer Nabbed for Embezzling Nearly 30 Million Baht from Customers

[webfact]

 

In a shocking incident, police have issued an arrest warrant for a prominent bank officer in Kalasin province, who allegedly embezzled almost 30 million baht from customers.

 

Operating within the network of Village Funds (GFs), the officer exploited her role as a bank officer to manipulate account books, fake transactions, and divert loans, causing cumulative losses of nearly 30 million baht, reported Daily News.

 

Picture: Daily News

 

The scandal came to light when the GF committee received complaints of delayed disbursements. Residents realized the officer in question was responsible for these discrepancies. She worked at the Savings Bank branch in Kuchinarai district for over a decade, wearing the bank's uniform.

 

The local police have responded promptly, filing charges against her for embezzlement, document forgery, and other related crimes. The investigative unit is gathering evidence to construct a robust legal argument.

 

The monetary losses stemming from the fraudulent scheme have surpassed 28 million baht, with projections indicating that the final sum could extend to 30 million baht.

 

This occurrence has sparked widespread public indignation, prompting the bank's leadership to take decisive measures. They have relocated senior officials from the branch and initiated internal inquiries. Furthermore, the bank's higher-level board has established dedicated committees to confront the situation and provide compensation to those impacted.

 

Picture: Daily News

 

This case underscores the crucial significance of upholding honesty and integrity within financial institutions, which is essential for cultivating trust and safeguarding customer interests. With the ongoing investigation, the bank's reputation hangs in the balance, underscoring the stakes involved.

 

Top Picture: Daily News

 

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[sammieuk1]

Artificial intelligence is already running the banking system here right along side no intelligence at all ???? 

[ukrules]

1 hour ago, webfact said:

Furthermore, the bank's higher-level board has established dedicated committees to confront the situation and provide compensation to those impacted.

It should be clear that the only theft that happened here was from the bank itself.

 

Anything else was altering computer records to cover up what happened but the bank is clearly the victim here, not the customers.

 

Those customer records should all be reset to what they should be.

 

[ezzra]

Not only the banks has to guard against outside scammers now it has to guard against inside embezzlers one too, so they better put a system in place to cross check not only outside threats but inside ones too.

[bamnutsak]

2 hours ago, webfact said:

Operating within the network of Village Funds (GFs)

 

The less formal banking institutions here, Cooperatives and Village Funds, seem like dumpsters about to catch fire. Embezzlement, Debt Relief, and NPLs, being the primary problems festering.

 

 

[Hamus Yaigh]

2 hours ago, webfact said:

Operating within the network of Village Funds (GFs)

Girl Friends funds? Must be funded by sick buffalo story trading.

[DILLIGAD]

*They have relocated senior officials from the branch and initiated internal inquiries.*

 

That will teach them a lesson (Said no-one!)

[Shop mak]

Many similar stories last 20 years that bank staff has been embezzling money from Thai and foreigner customers. 

Still the Banks seemingly havent been implementing new systems that make it impossible.

[Bangkok Barry]

3 hours ago, Shop mak said:

Many similar stories last 20 years that bank staff has been embezzling money from Thai and foreigner customers. 

Still the Banks seemingly havent been implementing new systems that make it impossible.

And, meanwhile, the government demands, insists, that we keep funds in a Thai bank in order to live with our wife and/or in retirement.

[Tropposurfer]

This is why I/we have only a small amount at any time in Thai banks .... AND we watch carefully the account we do have. 

[hotchilli]

8 hours ago, webfact said:

They have relocated senior officials from the branch and initiated internal inquiries. Furthermore, the bank's higher-level board has established dedicated committees to confront the situation and provide compensation to those impacted.

Where there's money there's the incentive to get rich quick.

[billd766]

42 minutes ago, Tropposurfer said:

This is why I/we have only a small amount at any time in Thai banks .... AND we watch carefully the account we do have. 

I check my bank account daily online and reconcile the statements every month.

 

It takes a couple of minutes a day to check and about 20 minutes a month to download the statement and reconcile it, then save it to my external hard drive.

Edited September 4, 2023 by billd766
added extra text

[RichardColeman]

there is no point doing this unless you have a set monetary goal and escape plan !

[keithkarmann]

Embezzled money from bank not the customers . Customers money is protected. Bank has to sue the bank employee (good luck with that). But it is the Thai tradition to not accept blame,  which is what the bank is implying.

[jaideedave]

1 hour ago, hotchilli said:

Where there's money there's the incentive to get rich quick.

She has probably spotted her managers skimming over the years and just thought it was her turn.

[foreverlomsak]

8 hours ago, sammieuk1 said:

Artificial intelligence is already running the banking system here right along side no intelligence at all ???? 

and the artificial intelligence is operated and maintained by ..........

I attempted to add an existing bank account to my mobile banking app, no joy "go to your local branch", off I pop, tell the assistant what the problem was, "no problem I'll do it for you", after a couple of minutes of pressing buttons and checking the data inserted it was "done". Oh no it wasn't she got the same message as me "go to your local branch", try again, failed again, phoned a help line, no help, answer was "need to get Bangkok to solve the problem". I solved it told them to close the account.

[roger101]

What was the name of the bank?

[Liverpool Lou]

8 minutes ago, roger101 said:

What was the name of the bank?

It's in the full report!  GSB.

[BEngBKK]

I wonder if the customers will get the stolen money back...

Edited September 4, 2023 by BEngBKK

[david555]

BTW  what happened with those who lost years ago money by that Pattaya KK branch employee who promised those high private investment (unbelievable )  big return % ( not from KK themself )

 

Did they got their lost money already back ?

Edited September 4, 2023 by david555

[Liverpool Lou]

13 minutes ago, BEngBKK said:

I wonder if the customers will get the stolen money back...

Yes, the article covered that also.

[impulse]

10 hours ago, DILLIGAD said:

*They have relocated senior officials from the branch and initiated internal inquiries.*

 

That will teach them a lesson (Said no-one!)

That's not meant to be punishment.  That's so they're not around to cover their tracks and interfere with any investigation.

[david555]

6 hours ago, Bangkok Barry said:

And, meanwhile, the government demands, insists, that we keep funds in a Thai bank in order to live with our wife and/or in retirement.

in my almost 14 years being at KK bank i never experienced a fault by using them needed for my NON O ret.Ext.  Money on bank system.

 

Also by leaving Thailand and Non O last Sept., i could almost all transfer out to my E.U. bank(s) without no problem , all came in legally ...., so all could go out easy

 

.....There lies  the problem maybe for those being afraid to put money on Thai banks ....!?

 

 

[Bangkok Barry]

9 minutes ago, david555 said:

in my almost 14 years being at KK bank i never experienced a fault by using them needed for my NON O ret.Ext.  Money on bank system.

Those staff who do an honest job aren't the problem. The problem is that in Thailand there are those who do not and it isn't unusual to read of them. Those are the problem, and any of us could be a victim at any time. And quite often the banks deny all responsibility, the default action for anything that goes wrong in Thailand.

[david555]

6 minutes ago, Bangkok Barry said:

Those staff who do an honest job aren't the problem. The problem is that in Thailand there are those who do not and it isn't unusual to read of them. Those are the problem, and any of us could be a victim at any time. And quite often the banks deny all responsibility, the default action for anything that goes wrong in Thailand.

Is it any different with western  banks ? who even refuse to pay back in online fraud .....when even a independent  bank authority service advised to  compensate the victim ...?

 

When it comes to pay / compensate they use every trick of the book ..... wherever on Earth ....,not an exclusivity of Thai banks .......

 

And sure be aware not to believe % investments who are too nice to be true .......as they are as so

 

[JeffersLos]

The police arrived to ask her for a loan. 

[Classic Ray]

I’m just surprised they don’t have rigorous auditing systems to check each branch regularly, say 4 times a year.

 

Even just having an audit system provides a strong deterrent.

[The Theory]

What happened was not a

"one man job". Just like previous bank cases, however they never let the public know the real story since the bank face must be saved. 
 

15 hours ago, webfact said:

They have relocated senior officials from the branch and initiated internal inquiries.

 

[Bangkok Barry]

1 hour ago, david555 said:

Is it any different with western  banks ? who even refuse to pay back in online fraud .....when even a independent  bank authority service advised to  compensate the victim ...?

 

When it comes to pay / compensate they use every trick of the book ..... wherever on Earth ....,not an exclusivity of Thai banks .......

 

And sure be aware not to believe % investments who are too nice to be true .......as they are as so

 

I've personally never heard of money mysteriously disappearing from UK bank accounts. But that's just me.

[david555]

10 minutes ago, Bangkok Barry said:

I've personally never heard of money mysteriously disappearing from UK bank accounts. But that's just me.

I was referring to the example of online phishing fraud ,not directly about the "inside bank jobs" .....

 

Several examples in my E.U. country of online fraud by copied Bank-sites an spoofed phone numbers from bank , and so fake represented bank officials on client doorstep after.....(especially older persons as victims )