HCM CITY (Biz Hub) - The Orient Joint Stock Commercial Bank, consultancy Fintek Company Limited and its Malaysian principal TESS International on Wednesday signed an agreement for an anti-money laundering project at OCB. Nguyen Dinh Tung, OCB's CEO, said: "When the bank's scope and scale are increasingly widening, it means the bank has to face with the risk of money laundering, terrorist financing and trading fraud, which are alarming problems worldwide." The anti-money laundering system provides many different models and methods to filter customer information based on black lists, warning lists, embargo lists, and others and discover and investigate any suspicious transactions such as inconsistent or misleading customer information and cash transactions or deposits not in line with customers' business operations. Implementing an AML system would help the bank create a solid foundation in terms of risk management activities and the system's transparency and safety, Nguyen Hoang Ly, … [Read more...] about VN bank signs up for fight against money laundering
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Vietnam, Laos and Cambodia have signed an energy cooperation agreement to facilitate the construction of two World Bank-financed power transmission lines from Vietnam and Laos to Cambodia. In the agreement signed Wednesday in Phnom Penh, work on the two electricity transmission lines will start later this year and be completed in 2010. One line will stretch from Tay Ninh Province in Vietnam's south to Cambodia's Kampong Cham Province and the other from Champasak Province in Laos to Stung Treng Province in Cambodia. … [Read more...] about Indochinese nations sign up for WB-funded power projects
Nearly 40,000 people sign up to donate corneas Nearly 40,000 people have registered to donate their corneas to the Eye Bank, which has already received 461 corneas from 235 people in the past five years, according to the Viet Nam National Institute of Ophthalmology (VNIO). Viet Nam currently has around 30,000 people suffering from cornea-related blindness in need of cornea transplants, according to VNIO estimates. The institute honoured 37 families and individuals yesterday for their outstanding contributions to the development of the Eye Bank and cornea donation mobilisation. Court sentences four for forging passports The Ha Noi People's Court on Thursday sentenced four persons to several years in prison for forging authorised signatures and immigration documents to help two people flee abroad. According to the indictment, the four persons are Phan Van Lap, 46, from Quang Binh Province; Phi Manh Thang, 32, from Thach That District in Ha Noi; and Hoang Anh Tuan, 40, from Dong Da … [Read more...] about Nearly 40,000 people sign up to donate corneas
Conversations between men and women are forbidden at the school on the outskirts of Seoul, where security cameras watch the students' every move. There is no access to television, the Internet, mobile phones or MP3 players. Photo: Reuters Welcome to the monastic life of a boarding school for students dedicated to spending nine months preparing to retake South Korea's college entrance exams, in the hopes of a place at the best college and a job for life at a top corporation. "During study hours it's difficult to go to the bathroom even if I want to. Waking up early in the morning is also hard," said Um Hee-joon, 20, over a spartan lunch of pork cutlet. This year, the life-defining tests are on November 8. South Korea's exam hell is an annual event so full of pressure that many students are driven to despair, with some even taking their own lives. More than 50 percent of those between the ages of 15 and 19 who are suicidal have given "academic performance and college entrance" as a … [Read more...] about Military discipline for “soldiers” on Korea exam’s front line
Foreign telecom operators are still in Vietnam, waiting for long-stalled equitisation of local operators in the mobile sector. Before a difficult 2008 went away, EVN Telecom issued a letter of interest to two foreign telecom operators to become strategic partners. The country’s second CDMA operator plans to sell a 30 per cent stake to a foreign strategic partner before conducting its initial public offering. “We are submitting to the parent EVN Corporation a sale price proposal and are waiting for its approval before asking for the prime minister’s agreement. Thus, we may have those necessary approvals no sooner than June next year, when we can sell our stake to a foreign strategic partner,” said an EVN Telecom official. The equitisation execution is also lagging behind its initial schedule to finish preparations and get started with equitisation in 2008. The country’s first mobile operator, MobiFone, has been executing its equitization plan during … [Read more...] about Who will step up to the plate in 2009?