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Bank Loses Huge Deposits, Officials Still Unsure As To Why

Bank Loses Huge Deposits, Officials Still Unsure As To Why

Recently the Industrial and Commercial Bank of China has had ten depositors in quick succession file complaints because they claim that their money has vanished for no reason. One woman in the past year deposited about 10,800,000 RMB earned over a 20 year period. But in the beginning of May she received a notice that only about 124 RMB remained. Many people were attracted by extremely favorable rates (One year fixed deposit gets 10% interest), and dumped large sums of money into the bank. The problem probably started with this promise, but the police are still unsure as to the exact error.

Source: Tencent

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