Incorrect loan record<\/p>\n
In 2003, ABN Amro approved my personal loan for Rp 30 million
\nover 24 months. Every month I paid the approximately Rp 1.75
\nmillion installment on time.<\/p>\n
By April 2005, the entire 24 installments had been paid in
\nfull. However, since then, an ABN debt collector has called me
\nmany times and insisted that there is an outstanding balance of
\napproximately Rp 500,000. I gave all the transfer evidence to the
\ncollector, but the collector insists that I must pay the recorded
\noutstanding.<\/p>\n
Finally in Aug. 10, I received a detail statement from ABN
\nAmro from the collector. Upon further review of the said
\nstatement, I noticed that ABN had recorded my loan as being
\ndisbursed on March 27, 2003, but in fact I opened the account and
\nwithdrew the loan money at ABN Amro BEJ branch on April 14, 2003
\n(as per withdrawn slip from ABN).<\/p>\n
It's amazing that ABN recorded and recognized my loan 18 days
\nbefore any transactions or loan withdrawal had taken place. I do
\nnot know what basis and what accounting principle was used by
\nABN. However, based all accounting principles, the recognition of
\nsale or receivables must be based on transfer of title, or in the
\ncase of a bank loan, on the actual date the loan was disbursed to
\na customer, otherwise ABN has recorded fictitious transactions.<\/p>\n
My case is very simple: incorrect recording of date. However,
\nABN must recognize that this practice is prohibited and violates
\naccounting principles (and I believe this practice is prohibited
\nunder central bank regulations) by doing window dressing on the
\nfinancial statement.<\/p>\n
Just imagine if a US$1 million loan was approved by ABN and
\nthe customer did not withdraw the loan, then by the end of March
\n2003, the assets reported by ABN to Bank Indonesia would be
\noverstated by $1 million.<\/p>\n
A Customer
\nAccount # 306115033033
\nJakarta<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/incorrect-loan-record-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}