A branch of Sacombank in HCM City. — VNS Photo Bồ Xuân Hiệp

HCM CITY — A private lender is appealing a court decision requiring it to reimburse a client for nearly VNĐ47 billion (US$1.83 million) in unauthorised withdrawals from her account.

The Khánh Hòa Provincial People’s Court began hearings on January 15 for an appeal filed by Saigon Thương Tín Commercial Joint Stock Bank (Sacombank).

A representative from Sacombank claimed the initial judgment from the Cam Ranh City People’s Court in July last year that mandated it to repay VNĐ36.2 billion to Hồ Thị Thùy Dương, the plaintiff in the case, was “not objective”. 

The sum includes the principal amount of VNĐ26.9 billion after deducting the previously advanced VNĐ20 billion at the plaintiff’s request, as well as accrued interest of VNĐ7 billion and compensation of VNĐ2.3 billion for damages suffered by the plaintiff.

The court also ordered it to return two land ownership certificates that were held as collateral for the previously advanced amount. 

Lê Quang Vinh, representing his wife Dương, defended the first-instance ruling, stating it was legally sound and highlighted the significant impact of the loss to his family.

“The loss of such a substantial amount has adversely affected my family and diminished trust in our business operations,” he said.

The plaintiff initiated legal action against the bank in mid-2022 after the funds from her account at the bank’s Cam Ranh transaction office “disappeared under suspicious circumstances”.

The woman had sought the full return of the amount along with accrued interest and compensation for damages incurred.

An investigation by the Khánh Hoà provincial police uncovered a total of 12 unauthorised withdrawal transactions, including cash withdrawals outside of business hours and internet banking transfers to unknown recipients, all without the account owner’s consent.

The plaintiff denied any involvement in these transactions, as she and her family were traveling in Phú Quốc at the time.

The Procuracy supported the plaintiff’s lawsuit, seeking the return of the principal amount, accrued interest, and two land use rights certificates, citing the unauthorised nature of the transactions and deficiencies in the bank’s withdrawal procedures.

The bank rejected the ruling, claiming the plaintiff had signed all 12 withdrawal documents, a claim refuted by the plaintiff.

The Vietnamese banking sector has been facing criticism for inadequate management, leading to customer losses from unexplained fund disappearances.

Banks typically disclaim responsibility for such losses and advise customers to await police investigations, a lengthy process that often takes many years. — VNS