Measures to fight wrongdoings and corruption in the banking system and ensure bank deposits are urgently needed, Deputy Prime Minister Nguyen Xuan Phuc said on Nov. 30.

Addressing a seminar on preventing corruption in the banking system held in HCM City , Phuc said: "Several banks have not strictly complied with laws, causing negative consequences and big losses to the State and people's property."

He urged the State Bank of Vietnam to submit soon a proposal to restructure the commercial banking system. The restructuring should make the system more transparent so as to prevent all forms of corruption, he said.

Phuc also requested each bank to have stricter recruitment and promotion processes. Leaders of banks that have personnel violating general laws and banking regulations should be penalised and those committing the violations fired, he said.

Banks must also set up a monitoring system that works and institute policies to enhance transparency and publicising of information, he said.

Phuc also encouraged banks to work closely with public security agencies in preventing corruption and discovering violations.

He asked security agencies to assist banks in the task.

At the seminar, the National Steering Committee for Corruption Prevention reported on 30 corruption cases in banking system. Committee member Pham Anh Tuan spoke about discovering violations and fighting criminals in the system.

State Bank of Vietnam Governor Nguyen Van Binh spoke about strategies deployed by the central bank in rooting out corruption in the banking system, while HCM City People's Committee Vice Chairwoman Nguyen Thi Hong reported on the city's experiences in the same task./.