In our daily cognition, banks have quite mature risk control systems and strict examination and approval systems, so it is very difficult to cheat banks. In that case, why were banks cheated? Let's take a look at this case.
Before analyzing why banks are cheated, we must first find out what the risk management logic of inventory financing is.
The risk management logic of inventory financing not only includes the logic of general financial risk management, but also has a set of specific risk management logic because of its characteristics. The risk management logic of inventory financing can be summarized as nine words "see clearly, manage well and sell well".
The key to inventory financing lies in commodities, and risk management basically revolves around commodities. "Look clearly" means to know the goods used for financing, that is, to master the basic information of the goods in an all-round way, including the name, specifications, price, quantity, weight, storage conditions, appearance characteristics, nature and the main differences and methods from similar goods. Why do you want to "see clearly"? Mainly in order to be able to find the situation of shoddy and fake in time at the stage of commodity evaluation. To some extent, it can put an end to fraud before signing the contract.
"Custody" means that you can effectively control the real-time status of the goods from the signing negotiation stage, effectively supervise the goods, and enjoy absolute control over the goods after signing the contract. After the loan agreement is signed, the goods are generally stored in a third-party warehouse. At this time, what financial institutions need to do is to cooperate with reliable third-party institutions to supervise the goods, and control the situation of the goods in the warehouse, the situation of entering and leaving the warehouse, and when and who touched the goods. At this time, financial institutions should bear in mind that the consignor is no longer the actual controller of the goods, and should isolate the consignor from the goods as much as possible before repayment, which is also the most effective means to avoid the goods being replaced or stolen, the supply is in short supply and lost, and to isolate the risks between the consignor and the goods, and at the same time avoid the situation of multiple loans for one goods. Many financial institutions think that signing a loan contract to gain control of goods will be all right, but this is only the beginning. Even if there is control, if the supervision is improper, the goods may still have problems.
"Sellable" means that in the event of default, financial institutions can dispose of goods as quickly as possible and avoid or reduce losses to the greatest extent. Of course, "selling" is based on "seeing clearly and managing". At the same time, sales also require financial institutions to have a full understanding of the market and be able to roughly understand the current supply and demand situation, price fluctuations and sales channels of the market. Although many financial institutions know that they can avoid or reduce losses by disposing of goods in the face of default, the reality is that they often lack the ability to dispose of goods, resulting in the goods being smashed in their hands.
With a clear understanding of the risk management logic of inventory financing, it is easy to know why Industrial Bank and Fuxin Bank were cheated.
According to the online information, the protagonist of this single case is Liu Jiange, male,1born in Shenyang, Liaoning Province on February 28th, 969, Han nationality, who was originally the legal representative of Shenyang Honghui Copper Co., Ltd. ..
From June, 20 13 to April, 20 14, Liu Jiange, as the legal representative of Honghui Company, and Du Mousheng (on the run) used the 35 193.5 kilograms of zinc ingots purchased in advance as pledge to defraud Fuxin Bank Shenbei Sub-branch of the loan 1.
From February 20 13 to June 20 14, defendants Liu Jiange and Du Mousheng defrauded Shenyang Branch of Industrial Bank for a loan with 29,273 kilograms of zinc ingots purchased in advance as pledge in the name of Honghui Company, and obtained a bank acceptance bill with a total amount of1.153 million yuan.
The testimony of several relevant personnel in the case restored the whole case and revealed the real reason for being cheated.
According to the testimony of the Marketing Manager of Shenbei Sub-branch of Fuxin Bank Shenyang Branch:
2013 On June 5438+00, Du Mousheng, the actual controller of Honghui Company, applied to our bank for a comprehensive credit of 80 million yuan with 34,000 kilograms of silver ingots as pledge. After the loan review meeting of our bank passed, Shenbei Sub-branch of Fuxin Bank signed a comprehensive credit agreement with Honghui Company and a maximum guarantee contract. On April 9, 20 14, our bank, Honghui Company and Sinotrans carried out inventory sampling on the silver ingots pledged to our bank by Honghui Company. Before lending money, our bank cut corners and sampled silver ingots. After identification, the silver content was not less than 99.99%. On April 15 of the same year, Hong Xiang Hui Company of our bank issued an acceptance bill with a total face value of 1600,000 yuan, of which 80 million yuan was used as a deposit, and the credit granted to Honghui Company was 80 million yuan, which was agreed to be repaid on June 14 and June16. 2065438+September 2004, our bank found that Du Mousheng had gone abroad and lost contact. Later, Industrial Bank and China CITIC Bank sued Honghui Company respectively, resulting in the seizure of the silver ingots pledged to our bank. After the acceptance bill expires, Honghui Company has not returned the exposure amount of 80 million yuan. Now I know that this batch of silver ingots is fake, so I report it to the public security organ.
According to the employee testimony of the sales department of Shenyang Branch of Industrial Bank:
2065438+2004 65438+ 10 Honghui Company issued an acceptance bill of 70 million yuan to our bank with 29,000 kilograms of silver as pledge, and another acceptance bill of 45.3 million yuan was issued in June of the same year with a term of 6 months. Du Mousheng, the actual controller of Honghui Company, could not be found after the bill expired, and the exposure amount has not been returned to 57.65 million yuan. Liu Jiange and Liu Mou2 of Honghui Company were also present when my colleagues Yu Mou, 4 Mou and Min Mou were inspecting the pledge abroad. Cao and another person are responsible for cutting corners in the container. They said there was Mars, so we didn't see the process of cutting corners. We took the corners they gave us to the metal detection center under the Chinese Academy of Sciences for identification. Later, the public security organs came to us and said that Honghui Company might have fraud. Therefore, our bank re-evaluated the silver pledged by Honghui Company and found that the pledge was actually zinc.
It stands to reason that both zinc and silver should be carefully sampled and identified to avoid being cheated. So, in this case, how do bank employees know?
According to the victim's statement, the process of inspection (pledge) is as follows:
We randomly selected three pieces of silver ingots, which were cut by employees of Honghui Company. Colleagues want to pick up the jerry-built materials that fell to the ground. The other employee suggested that the jerry-built materials have a high temperature, and then let us take photos and keep them after cooling. This process is supervised by Bai and I 1. On the same day, we took three cutting angles for identification, and the test results showed that the purity of silver was above 99%.
According to another victim Liu 1:
On June 1 1, 2004, I met Du Mousheng in the office of Guanding Company through the introduction of Wang Haidong. He wants to use13527kg sterling silver as pledge and Guanding Company and Honghui Company as guarantees to borrow 30 million yuan from me, with a monthly interest rate of 2% and a term of 3 months. Du Mousheng told me that he is the actual owner of Guanding Company and Honghui Company, and the loan is actually for his personal use. Du Mousheng showed me the purchase and sale contract of the silver ingots purchased by Guanding Company from Huludao Sheng Qiang Metal Co., Ltd. and the ownership certificate and quality certificate of the silver ingots issued by Sheng Qiang Company. On June/0/3 of the same year, I went to inspect the goods, and Ding Mou, Liu Jiange, Liu Mouer and two workers from the other company were present. I took out a silver ingot from the warehouse of Honghui Company. Liu Jiange proposed to cut the silver ingot with a chainsaw, and then identified it with the cutting angle. Two workers cut silver ingots with their backs to me. Liu 2 said to me, "Brother, please go to other sites, and don't shoot sparks at you." I took a few steps outside, and the angle knife and Liu Er kept me out, so I didn't see the cutting process.
According to the statement of the victim Zhang 1:
Du Mousheng, the actual controller of Guanding Company and Honghui Company, defrauded me of 50 million yuan. The legal person of Guanding Company is Ding Mou, and the legal person of Honghui Company is Liu Jiange. In May 20 14, I met Du Mousheng through Wang Haidong. He wants to borrow 50 million yuan from me with 2 1293.438+03 kg sterling silver as pledge and Honghui Company as guarantor, with a monthly interest rate of 2% and a term of 3 months. I took out a silver ingot from the warehouse. Liu Jiange proposed to cut the silver ingot with a chainsaw and then identify it with a corner cutter. Two workers cut silver ingots with their backs to me. Liu Er told me that there was Mars when the corner was cut, so he didn't let me in. I didn't see the cutting process. I took the jerry-built materials to Liaoning Gemstone Quality Appraisal and Inspection Center for appraisal, and the appraisal result was silver, with a metal content of 99.9%. On July 15 of the same year, Du Mousheng didn't give me interest and couldn't find him, and Liu 1 who lent money to Du Mousheng couldn't find him either. We re-sampled and identified the pledge stored in Sinotrans, and the conclusion was zinc. It may be that the silver ingot was switched when the corner was cut.
Let's see how the switch is implemented.
According to the ruling, Cao is an employee of Liu Jiange. According to his testimony:
From 20 13, Liu Jiange and Liu Mou2 came to my company to cut corners for four or five times, and finally cut corners 16. They told me that they were cutting silver ingots, and Liu Jiange also asked me not to ask more questions and cut corners according to their requirements. I cut it in the office of Du Mousheng, Liu Jiange and Zhang 3, Du Mousheng's secretary. Every time Liu Er asked me to cut corners, he took them away. I went to Sinotrans several times to cut corners, and every time Liu Jiange, Liu Mou 2 and Jin Zengfa were present, there was another person named "Gao Mou 3". A few days ago, I went abroad to cut corners. Liu Er asked me to cut corners in the company first, and then cut corners in the overseas transportation. Liu Jiange told me in his office that he would cut the corners according to the size of the previous cuts. I found that the metal cutting is very hard when I cut corners abroad, which is different from the metal cutting in the company. Liu 2 and Liu Jiange didn't let me ask questions blindly. I cut corners according to their requirements. Every time after cutting, "Gao Mou 3" wears gloves and throws the corner directly to the other party. I found that the angle thrown by "Gao Mou 3" on the ground was different from the metal I cut on the spot. He should throw away the corner I cut in the company before. The metal I cut at the outbound site is harder, blue and black than the metal I cut in the company before. At the outbound site, no one found that the angle thrown by Gao Mou 3 was different from the metal I cut. Liu Jiange and Liu Mouer won't let me talk more. For the first time, I cut corners in the sinotrans warehouse and found that "Gao Mou 3" was replaced.
Judging from the testimony of the bank staff and several victims, it is actually difficult to determine when this batch of "silver ingots" went wrong, but from the testimony of Cao, an employee of Honghui Company, we can know that it was actually a scam from the beginning. The so-called "silver ingot" is zinc. Afterwards, we will think that this is an obvious scam. The main reasons why banks fall into this scam are as follows.
1. Honghui Company, as the owner, has carefully fabricated a scam with moral hazard. Moral hazard is determined by people's subjective consciousness, which is difficult to detect and cannot be prevented.
2. As the funder, banks have the problems of unclear understanding of goods and poor management of collateral, that is, they fail to "see clearly and manage well".
The first is the problem that the goods are not right. At first glance, there is no difference between silver and zinc, but with a little care, there is actually a big difference (see the main characteristics of silver and zinc in the table below), especially high-purity zinc and silver.
Main characteristics of silver and zinc
silver
zinc (Zn)
external
White and shiny
Silver and white with light blue.
density
10.49g/cm？
7. 14g/cm？
melting point
96 1.78℃
4 19.5℃
other
Good ductility and soft texture.
Hard texture
From the appearance, silver is white and bright, the color is white, and zinc is silvery and slightly blue, which is what Cao said. Subtle differences in color, coupled with the influence of lighting conditions or other factors at that time, may not be noticed for a while. However, the density difference between silver and zinc is still relatively large, that is to say, the weight difference between silver and zinc with the same volume size is 3.35g g, and weighing was the fastest and simplest method to distinguish zinc from silver at that time. If the total weight is constant, the volume will definitely be different. The simplest way to calculate the volume is to calculate the number of blocks, which does not require too much manpower and material resources. There is also the method we often see in TV dramas. Bite with your teeth, silver is soft, percussion with a blunt instrument can leave traces, and zinc is hard, leaving almost no traces. The other method is actually very easy to do. Because the melting point of zinc is relatively low, it will soften when heated by ordinary alcohol lamp, while silver will hardly change.
So with a little preparation, you can quickly judge whether it is true or not and put an end to fraud. Obviously, neither Fuxin Bank nor Industrial Bank employees involved did this. Many financial practitioners may know a lot about financial business because they have been rooted in this industry for a long time. However, with the development of the financial industry, the types of financial products are constantly innovating, so the knowledge that needs to be mastered needs to be constantly updated. In addition to financial knowledge, they also need to master relevant knowledge such as industry, trade, supply chain and products. For inventory financing, before lending, it is necessary not only to conduct strict risk review on the consignor, but also to fully understand the goods. The review of the goods is sometimes as strict as or even stricter than that on the consignor.
Secondly, the problem of collateral management failure. From the stage of reaching loan intention to completing repayment, banks need to effectively manage collateral. The management of collateral involves two parties, one is the bank involved, and the other is the third-party warehousing company-Sinotrans.
First, after the collateral is put into storage, the bank should always put the collateral under its own monitoring, so as to completely isolate the owner from the collateral. However, judging from the testimonies of all parties, both the sampling and inspection of the collateral are the whole process of the owner's participation, and in this critical period of sampling, the bank actually failed to complete the sampling under its own supervision because of the so-called Mars, which created favorable opportunities for Honghui Company. In fact, for some relatively high-value commodities, the process from sampling to inspection requires not only the full participation of investors, but also the full video recording, which is one of them. Second, the bank should hire a qualified independent third party to complete the process from sampling to inspection, rather than the owner sending someone. It is precisely because of this that zinc can become "silver" again and again, which are the biggest management mistakes of banks.
Secondly, as a third-party warehousing company, Sinotrans undertakes the financial warehousing function in inventory financing. Different from ordinary warehousing, financial warehousing is not only to store goods, but also to cooperate with financial parties to participate in the supervision of goods in the whole process, that is to say, the warehousing party should help banks achieve absolute control over collateral at this time, and no one can touch the goods except the financial parties. This can avoid the problems of goods and repeated pledge. Of course, Sinotrans is rarely mentioned in the case. If Sinotrans signed a financial warehousing agreement with the bank this time, then Sinotrans has also failed in its supervision this time. If not, it can only be said that banks lack risk awareness.
The last point is the disposal of collateral. In the case, we can see that the collateral was seized by the police, so it is unknown who has the right to dispose of it. However, if the right of disposal belongs to the bank, although zinc is not as valuable as silver, proper disposal can also reduce losses to some extent.
Things have happened, and losses are inevitable. It can only be said that this incident has given many financial institutions doing inventory financing a wake-up call. So how to prevent the risk of inventory financing should at least do the following:
First, pay attention to corporate credit. The enterprises here mainly refer to borrowing enterprises and third-party supervision enterprises. First of all, we must choose the right borrowing enterprise. Focus on the operating ability and credit status of enterprises, try to choose enterprises with stable main business, perfect internal management system, high operating quality and no bad credit record, and strictly implement the loan qualification access system. The second is to choose a suitable third-party supervision enterprise. The credit status and assets status of the supervision enterprise are directly related to whether the collateral can be effectively supervised. The selection of supervision enterprises should follow the following principles: abundant assets; Operating in compliance with laws and regulations, with strict internal management, good social reputation and no bad records; Sound internal control system, rich experience, and specific supervision plans and schemes; Have the attitude and ability to undertake mortgage supervision and be responsible to the bank.
Second, fully understand the relevant information of goods. First, we must strictly confirm the ownership of the goods. Only the goods whose ownership belongs to the borrower can be pledged or mortgaged, and the illegally obtained goods cannot be used as collateral. The second is to comprehensively evaluate the inventory quality. Including whether the quantity, specifications, weight and appearance characteristics of the inventory are consistent with the description in the submitted documents; Whether the valuation of commodities truly reflects the market situation; Whether the fluctuation of market price will affect the pledged or mortgaged goods; The difficulty of keeping the goods; The future market sales of commodities, etc. We can't choose the goods with unstable nature, perishable and easy consumption, large market price fluctuation and irregular market demand as collateral, and the goods with higher value should be treated with caution. If you don't know about the goods, you can hire external experts to evaluate the goods. The third is to clarify the legal relationship, rights and obligations of all parties, and pay attention to the control of key links such as acceptance and confirmation of goods, pledge, replacement and deregulation of goods. The fourth is to reasonably determine the value of goods and the mortgage rate. Determine the criteria for calculating the value of goods, such as the lower of the purchase price or cost price of goods or the lowest market price in the region in the past six months. The amount of financing should be reasonably determined by comprehensively considering the borrower's credit standing, credit line, type and quality of pledge, market conditions, difficulty in realizing, etc.
Third, improve inventory supervision measures. First, it is necessary to strengthen business operation management and internal operation standard management, and there can be no situation where the whole process of sampling inspection is not monitored. As long as it involves the contact between people and goods, it must be carried out under the supervision of the investor. Second, give full play to the supervision function of third-party enterprises, sign financial warehousing agreements with warehousing enterprises, clarify the actual control right of goods, strictly fulfill the responsibilities and obligations stipulated in the supervision agreement, isolate borrowers from inventory to the maximum extent, and prevent the risk of inventory being exchanged, stolen, repeatedly pledged or re-mortgaged. The third is to grasp the inventory information in real time, introduce modern information technologies such as the Internet of Things, blockchain and big data, and establish an inventory information collection and feedback system, which not only grasps the inventory status in the warehouse, but also grasps the changing law of inventory market value and sales situation, and carries out real-time and effective tracking and evaluation on the value and sales situation of pledged goods. Set an early warning line to warn the possible risks in advance. When the market price drops or the stock quantity drops to the warning line, notify the pledgor to increase the pledge and deposit as agreed to avoid business losses. Fourth, establish effective inventory disposal channels, which can effectively dispose of inventory and avoid or reduce losses in case of breach of contract.
In recent years, cases of inventory financing being cheated are not uncommon. It is nothing more than being cheated by exchanging goods for banks, but careful analysis shows that the reasons for being cheated are similar. Why such incidents happen again and again deserves our reflection and deep thought. Many financial institutions stop doing inventory financing because of these events, but won't they be cheated if they don't do inventory financing? Or the problem of inventory financing? Actually, it is not. If the risk control concept, risk control means and knowledge you have not kept pace with the times, then even if you are not cheated in inventory financing, you will be cheated in other businesses. what do you think?
Remarks: Li Da took it.
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