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Rachrll Pabiona Bsa 2

The document discusses a case where a depositor entered into an agreement with a commercial bank to deposit 2 million pesos with an assured 9.6% interest rate. However, the bank manager did not provide any documents detailing the terms and failed to return the full amount after one month when requested. The depositor filed complaints with the Bangko Sentral ng Pilipinas (BSP) regulatory agency but they did not take any action. This case highlights issues of fraud, lack of transparency, and regulatory failure that undermine trust in the banking system and can negatively impact the industry's reputation.

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908 views2 pages

Rachrll Pabiona Bsa 2

The document discusses a case where a depositor entered into an agreement with a commercial bank to deposit 2 million pesos with an assured 9.6% interest rate. However, the bank manager did not provide any documents detailing the terms and failed to return the full amount after one month when requested. The depositor filed complaints with the Bangko Sentral ng Pilipinas (BSP) regulatory agency but they did not take any action. This case highlights issues of fraud, lack of transparency, and regulatory failure that undermine trust in the banking system and can negatively impact the industry's reputation.

Uploaded by

Raca Desu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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RACHRLL PABIONA

BSA 2

1. One moral principle being violated in this case is the irresponsibility of the BSP officials. The
BSP did not perform any action when the depositor filed letters of complaint to the them.
Another is the obvious fraud the maganer is making to the depositor. It supposed to be a formal
agreement through legit documents indicating the missing information stated in the case. They
even lied that they're trusted and the deposit of the depositor is safe and jncome-generating. It
is very difficult on the part of the depositor to withdraw the 2M on that commercial bank
considering the lapse of more than 1 month.

2. They did not carry out their respective responsibilities uprightly and morally because of the
immoral fraud attached and the ignorance of the BSP officials to the complaint of the depositor.
The action, implementation, or performance of the branch manager and the officials from the
BSP was not in accordance with their duties for reasons that the branch manager were unable
to fulfill his promise to the depositor that his deposit is very safe and income-generating. Also,
the BSP did not perform any action when the depositor filed letters of complaint to them.

3.The moral implication to the banking and finance industries is that it will affect their trust and
reputation because of the fraud and scam happenned. No more people will going to deposit to
their bank and their financial status will decrease as well. Investors and their other trader will
loose trust and eventually leave them as they don't want to get involved in the immoral doings
of the bank.
depositor entered into a trust agreement with a commercial bank under clear and certain terms that it
would carry an interest at a net rate of 9.6%. The manager of the bank assured him that his deposit
amounting to P2 million is very safe, income-generating, and the income derived is tax free. However,
he was not furnished a single piece of document except the official receipt for P2 million. The Trust
Agreement(TA), which the manager made him sign in blank, was given to him only after he demanded
for copies of documents relative to his deposit. He was not informed in what manner his money is being
used by the bank, making him believe that it is just an ordinary deposit. Even the TA did not name who
the beneficiary of the alleged trust will be. But while the copies of the documents given to him do not
bear his conformity, those filed with the Bangko Sentral ng Pilipinas (BSP) have his alleged signature.The
depositor demanded the return of P2 million from the commercial bank and filed letters of complaint
with BSP. No action has been taken despite the lapse of more than one month except for the informal
talkwith the department’s lawyer who told the complainant that the bank has answered the initial
complaint.As at date, the complainant has not been furnished copy of such reply.

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