This photo shows the Industrial and Commercial Bank of China (ICBC) branch where several clients' deposits have gone. (Photo/Chinanews.com)
(ECNS) - Tens of millions of yuan in savings have gone missing at an Industrial and Commercial Bank of China (ICBC) branch in Shijiazhuang, capital city of north China's Hebei province.
Following reports that a customer named Yu Bing had lost at least three million yuan (about $483,300) in savings at an ICBC branch in Shijiazhuang, several other customers also reported losses.
A businesswoman said she put 10.8 million yuan into the branch from May 2014 to Jan 2015, only to see the amount shrink to 124 yuan.
Her password for U-shield, a security extension from ICBC, is different from the bank's designated password, yet she never used her U-shield or told anyone else about the password.
She also said that an ICBC employee had promised as much as a 10 percent interest rate.
The bank said it's hard to estimate the total amount of money and number of customers involved.
The ICBC branch should be held legally responsible, said Qi Sheng, a lawyer. Branch staff could even face theft and fraud charges.
The police are now investigating Yu's case.
