Prime Minister directs to strengthen inspection of credit institutions' operations

Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 766 on strengthening solutions to prevent, stop, and handle "black credit" activities.

The Prime Minister acknowledged that although there have been many documents directing ministries, branches and localities to strengthen prevention and combat against crimes and law violations related to "black credit" activities, recently there have appeared a number of new methods and tricks, taking advantage of high technology, hiding under the guise of businesses to carry out illegal lending and debt collection activities, causing public outrage and affecting security and order.

According to the Government leader, the main reason is that a part of the people, for various reasons, have a need to borrow capital without mortgaging assets; propaganda and dissemination work on methods, tricks, and consequences of "black credit" is still limited and not very effective; State management work in some areas still has loopholes and shortcomings for bad elements to take advantage of their activities...

To continue to improve the effectiveness of prevention, suppression and handling of "black credit" activities, Prime Minister Pham Minh Chinh requested the State Bank to focus on research, urgently perfecting banking credit mechanisms and policies, developing the credit system, diversifying loan types, banking products and services with quick and convenient procedures, meeting the legitimate and legal borrowing needs to serve people's lives and consumption.

"Strengthen inspection, examination, supervision and management of the activities of credit institutions, payment intermediaries and e-wallets, prevent subjects from colluding in "black credit" activities, and promptly handle violations according to regulations," the dispatch stated.

The State Bank closely coordinates with the Ministry of Public Security to apply population data to promote the review and authentication of bank accounts, thoroughly handling the use of "virtual" accounts for "black credit" activities.

The State Bank is also required to closely coordinate with the Ministry of Planning and Investment, the Ministry of Justice, the Ministry of Public Security, and the Ministry of Information and Communications according to their functions and tasks to strengthen inspection and examination of the operations of credit institutions, financial companies, enterprises, and law firms, promptly detect and strictly handle violations...

The Prime Minister assigned the Ministry of Information and Communications to strengthen state management in the fields of telecommunications and information security, promptly detect, prevent, and delete articles, content, images, etc. of illegal advertisements, websites, links, and applications related to "black credit" activities.

Closely coordinate with the Ministry of Public Security to apply population data to promote the review and authentication of Internet and mobile subscribers, and immediately remove junk SIMs to prevent subjects from taking advantage of "black credit" activities.

The Ministry of Public Security directs the police of units and localities to apply effective preventive measures, promptly detect and strictly handle according to the law acts related to "black credit" to deter, educate and prevent in general; launch peak campaigns to attack and suppress crimes and violations of the law related to "black credit", promptly report to the Prime Minister on the implementation results and arising issues.

Regarding localities, the Prime Minister requested Chairmen of People's Committees of provinces and centrally run cities to grasp the situation, strengthen inspection and examination of the activities of financial companies, enterprises, law firms, and conditional business establishments, promptly detect "black credit" activities, and strictly handle violations according to law.

At the same time, focus on leading and directing crime prevention and control work, building a mass movement to protect national security, and building communes, wards, and towns free of "black credit" activities.