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VietNamNews

Audit finds car registration-fee scam

Update: March, 30/2015 - 09:58
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HA NOI (VNS) — Complaints have been made that some banks and registration centres entrusted with collecting fees to check vehicles for roadworthiness delay sending the money to a central State fund known as the Viet Nam Register - often for a week or two.

An audit by authorities has confirmed the fact that both players are breaking the rules.

In fact, an audit found that by holding onto the money for extra time, those holding it can benefit from the interest paid on it.

The rule is that registration centres must pay the fees collected to Viet Nam Register by the end of each work day through a nominated bank.

The Viet Nam National Road Maintenance Fund recently inspected 19 registration centres about their administration of the fee in 2014.

It found that several of them failed to pay the sum to the Viet Nam Register's bank account at the end of every work day, but kept it with them for use or deposited it in an account at a bank hired to transfer the funds.

The fund found the 6004A register centre in Dong Nai Province retained fees for up to 14 days before sending it to the Viet Nam Register.

A similar situation was found at registration centres 6101S and 6102S in Binh Duong Province.

Not only did registration centres commit wrongdoing, but banks contracted to forward the fees were also found causing delays to the cash flow.

It was alleged that Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) often postponed transferring the sum it collected on the morning of Saturday until the following Monday.

In Viet Nam, public agencies and banks work on Saturday morning and begin the weekend on Saturday afternoon.

Meanwhile, the Bank for Investment and Development of Viet Nam (BIDV) has been accused of collecting and forwarding much of the daily money earlier in the day, leaving a significant amount of money unforwarded.

To sort this problem out, the Fund's Council has asked that registration centres require banks to honour their commitment to send all money at the end of working days. — VNS

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