Bank of China CITIC Bank sub-branch should be retreated

BankofChinaCITICBanksub-branchshouldberetreated
Recently,talkshowactorWangYuechihasadisputewithhisemployer,XiaoguoCultureCompany.IntheearlyhoursofMay7th,ChinaCITICBankrespondedandapologizedontheofficialWeiboabout”talkingshowactorChiZireportinghisallegedauthorizationtoprovidepersonalwatertothirdparties.”ChinaCITICBankstatedthatemployeesofChinaCITICBankdidnotstrictlyfollowtheregulationsandprovidedShanghaiYueguoCultureMediaCo.,Ltd.withacollectionrecordofWangYuechi(stagename”Chizi”).CITICBankhassupplementeddisciplinarymeasuresagainstrelevantemployeesinaccordancewiththerulesofthesystem,andreplacedtheheadofthesub-branchinordertoreplaceandresign.Tobehonest,Ididn’tknowtheartistbefore,andIdidn’tcareabouttherelatedtroubles,butonthe6thWangYuechiaccusedhisbank,CITICBank,ofprovidinghisbankaccounttransactiondetails(commonlyknownas”flowingwater”)toGuoguoCompany,Butitdeservesourattention,becausethiskindofthingcanhappentoeachofus.Becausethesebehaviorsarenotdifficulttooperate,andthesamehappenswhentheyarecopiedinothersituations,wealsoneedthiskindofpracticemodeltothinkaboutauniversalwayofprevention.Accordingtoreports,XiaoguoCompanycriticizedWangYuechiforsigningacontractwiththecompany,andthenparticipatedincommercialperformancesofothercompanies.Itisbelievedthatthecompany’smeaningmaybethattheincomeoftheartistsduringthesigningperiodistheimproperincomegeneratedbythebreachofcontract,andthereforethereisacorrelationwiththecompany’sinterests,soitistryingtousetherelevantincomedetailsoftheartiststocalltheirownRight,evenwanttofollowtheagreementtocollectsuchincometothecompany.SinceIdidn’tseethecontractbetweenthetwo,Idon’twanttojudgetheirmeritshere.Whatexactlyneedsanexperthereisthatevenifthecompanyhasafirmsubstantiverighttosignanartist’sextraincomeaccordingtothecontract,thecompanywillneverhavetheproceduralrighttoobtaintheartist’saccountdetails.Usually,evenifthecompanysuffersadumblossbecauseitcan’tseetheartist’saccount,thenithastosuffer.Andifthecompanydoesnothavesuchsubstantiverights,thenithasnorighttospyontheflowofothers.Inpractice,companyemployeesorcollaboratorsusuallyopenaccountsindesignatedbanksaccordingtocompanyrequirements.Sometimes,thecompanywillopenbankaccountsfornewemployeesinbatches.Thisdesignatedbankisgenerallyalsothebankwherethecompany’sownbasicaccountislocated.Itisalsomoreconvenientforthecompanytopaysalariesthroughtransfers.However,evenabankaccountthatthecompany“opens”onthebasisofthepersonalidentificationinformationprovidedbytheemployeeisalsotheemployee’sownreal-nameprivateaccount.Thecompanyhasnorighttoknowotherinformationintheaccountexceptforsharingdirectfinancialtransactionssuchasmonthlysalaryreleaseswithemployees.Accountinformationisatypeofpersonalprivacyandwasoriginallystrictlyprotectedunderthehighestlaws.TheCommercialBankLaw(revisedin2003)stipulates:”Commercialbankscanhandlepersonalsavingsanddepositbusinessthroughtheprinciplesofaccumulation,freewithdrawal,interest-bearingdeposits,andconfidentialityfordepositors.Withregardtopersonalsavingsdeposits,commercialbankshavetherighttorefuseanyunitorindividualtoinquire,freeze,deduct,unlessotherwiseprovidedbylaw.”Theso-calledlawsprovideotherwise,andrefertospecificandspecificlawsthatspecificallyauthorizethepublicsecurity,nationalsecurity,procuratorates,securitiesregulators,bankingandinsuranceregulatorsandothernationalagenciesforaccountinquiryactivitiesrequiredforadministrativeenforcement,criminalinvestigationandotherjudicialactivities(suchas(Article144oftheCriminalProcedureLaw,Article170oftheSecuritiesLaw).Infact,publicauthoritiescan’tpretendthattheyarepublicwelfare,sotheycanchecktheaccountsofothers.Asforcivildisputes,thenatureofcivillitigationisjusttheconflictofprivateinterests.Sincealawsuitisbeingsought,itisnormaltowanttochecktheotherparty’sinformation,butifyoucan’tfindit,youwon’tbeabletofindit.Itisillegalforthecompanytobeabigcustomerbyitself,soitisillegaltoaskthebanktoprovidetheaccountinformationofothers.Itisillegalforthecompanytodirectlymanageanemployeeofthebankandhavepersonaloperationstoprintouttheaccountinformationofothers.Ifthebankhassuchbehavior,accordingtothe”CommercialBankingLaw”,itshallbeliableforthepossiblelossoftheaccountopener,andthebankingregulatoryagencyshouldalsoorderthecorrespondingbanktocorrectit.Iftheillegalincomeortheillegalincomeislessthan5million,ascoreof5millionto500,000yuanshallbeimposed.Ofcourse,thebankshouldalsopunishthepersondirectlyresponsible.Itisalsoworthdiscussingthatinsomeplaces,accordingtotheflexibleinterpretationofArticle94oftheJudicialInterpretationofCivilLitigation(whichtriggers“otherevidencethatcannotbecollectedforobjectivereasons”),allowinglawyerstoinvestigatetheotherparty’sbankaccountwithaninvestigationorderisactuallyapracticeIt’snotgood.Asmentionedearlier,theessenceofcivillawsuitsisconfrontation,whichisthe“legaltruth”provedbysufficientevidencetojudgethevictoryanddefeat,anditisimpossibletopursue“objectivetruth”withoutpayingaprice.ThisPandora’sboxcannotbeopened.Ifthecompanysuspectsthatthecontractedartisthasexternalincome,theinvestigationorderwillbeusedtocheckhisbankaccount.Ifitisnotfound,canheasktocheckhisparents’account?Canyouasktocheckhisspouse’saccount?Can’tfindit,canIasktochecktheaccountsofhisfriendsandfamily?YiHudi!Ingeneral,underthebackgroundthatcertainpersonalinformationhasbeenseverelystolenbyvariouspeople,WangYuechi’saccountdetailshaveattractedattention,whichisagoodthing,indicatingthatwestillhaveamajorbottomlinethatwearewillingtodefendtogether.Wealsolookforwardtotheopportunityofthebankingandbankingregulatorydepartmentstoatleasttightenthefenceofaccountdetails.MiaoYinzhi(EconomicLawScholar)EditorChenLiyueCaiZhouproofreadingLiuYue