Enhancing the Role and Responsibility of the Media in Preventing and Detecting "Immoral" Manifestations in Banking Business, Detecting and Reporting

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Turn each bank's business slogan into specific ethical standards in the relationship between banks, credit institutions and shareholders, employees, customers, business partners, competitors and other social issues. Specifically:

i) The responsibility of the bank's Board of Directors in creating, maintaining and protecting the bank's business ethics is reflected in:

The Board of Directors must be a pioneer and set an example in complying with business ethics, especially maintaining the ethical qualities of managers, complying with bank governance rules and being absolutely loyal to the interests of the bank.

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Publicly disclose interests related to the bank, especially relationships that can be abused due to the position of bank leadership such as public disclosure of share ownership ratio, relationships with related people in the process of bank management, compliance with credit granting regime, etc.

Check, monitor and supervise employees during their operations, promptly remind employees when there are signs of violating banking business ethics.

Limit direct intervention in employee operations through abuse of power by administrators.

Objectivity, fairness and clarity in resolving conflicts of interest in banking.

ii) Educating employees on professional ethics is a task that is carried out regularly, not only for newly recruited employees but also for employees who have been with the bank for a long time.

iii) Maintaining and continuously increasing the value of the bank is the responsibility not only of the administrator and the manager but also of each bank employee. The interests of the bank and the interests of the bank employees are unified and not contradictory.

iv) Customer service is a duty

center of the whole

leadership and

bank staff. Ensuring the interests of customers is ensuring the interests of

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of the bank, the value of the bank is reflected in the satisfaction and continued use of banking services.

v) Participate with the Government and social organizations in carrying out activities

Humanitarian, charitable and social activities are regular activities.

4.3.2.3. Enhance the role and responsibility of the media in preventing and detecting "unethical" manifestations in banking business, detecting and setting examples of healthy commercial banks.

Recently, many violations of the law and business ethics by commercial banks have been discovered by the press, showing that the media has great power in contributing to condemning and protesting against businesses that violate business ethics that the law cannot handle.

Valuable communication

huge, it is a channel of image promotion

photo of business

business, but it is also the fastest "mirror" of "dirty mirrors" in business. The media is a tool for public opinion to speak out against businesses that violate business ethics, calling on the business community to build and promote businesses with business ethics. In order for the media to maximize its ability to disseminate and propagate business ethics values as well as detect and condemn unethical behavior in banking, it is necessary to focus on the following measures:

i) It is necessary to identify the most important role of communication in the process of raising awareness of ethical values in banking business, first of all by setting typical examples of commercial banks, bank managers and executives with a tradition of good business ethics.

ii) The media is the place to receive information about unethical business practices, guide and make recommendations to consumers and society to launch boycott campaigns against banks that do not respect ethics in the business process.

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iii) Creating a close connection between the media and competent state agencies in detecting and handling violations of the law in banking business creates an important premise for implementing business ethics values in practice.

iv) Assist banks in disseminating core values and ethical values that banks have achieved in their business operations so that banks can share their successes and failures in creating and maintaining ethical business values.

4.3.2.4 . Strengthen the dissemination of manifestations of unfair competition, consequences of unfair competition as well as sanctions against unfair competition in the banking market as well as each commercial bank itself.

This is a solution that needs to be implemented regularly, continuously, "slowly and steadily" to impact the awareness of unfair competition for administrators, managers as well as each staff of commercial banks. To effectively implement this solution, we recommend the following measures:

Regarding propaganda content, it is necessary to emphasize the manifestations/signs of unfair competition in banking activities of commercial banks, especially behaviors that are close to or difficult to distinguish between unfair competition and healthy competition so that commercial banks can recognize and adjust their competitive behavior towards healthy competitive behavior.

In addition to disseminating the manifestations/signs of unfair competition in banking activities, commercial banks need to focus on

Introduce and disseminate procedures for complaints and lawsuits against competition acts

unfair competition in banking activities of commercial banks; burden of proof, especially the collection of evidence, methods of proving damages from unfair competition in banking activities of commercial banks; experiences in dealing with unfair competition

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as well as experience in resolving cases related to unfair competition in banking activities of commercial banks. These good experiences need to be collected to publish in books in the form of questions and answers or to disseminate experiences in combating unfair competition in banking activities, with the focal point being the Vietnam Banking Association.

In terms of form, propaganda methods need to be diverse and rich and should be linked to specific situations and events to help banks.

Commercial goods are easily recognizable and interesting as well as

effective

belong to

Propaganda work. In addition to propaganda through books and newspapers, it is necessary to expand thematic talks on unfair competition and combating unfair competition in banking activities of commercial banks.

to make propaganda closer and more practical for the propaganda target

transmit

4.3.2.5. Promote the right to interpret the law of the court and the Competition Authority, the State Bank in determining and resolving unfair competition cases in banking activities of commercial banks; acknowledge and apply precedents as an important norm in handling violations of unfair competition in banking activities of commercial banks.

Theoretical and practical studies have demonstrated that unfair competition in banking activities of commercial banks is associated with

associated with the level

development of the market

banking school and creativity

of commercial banks in business. Therefore, to combat unfair competition in banking activities of commercial banks, no matter how hard we try, the regulations on combating unfair competition in banking activities of commercial banks will always "fall behind" the development of unfair competition in banking activities of commercial banks and will only be the process of "legalizing" unfair competition behaviors in banking activities of banks.

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Commercial competition has taken place in the banking market. That means, to combat unfair competition in banking activities, it is necessary to enhance the role of the Competition Management Agency, the State Bank and the People's Court in determining the unfairness in the competitive activities of commercial banks, especially the newly emerging manifestations of unfair competition.

Thus, only by acknowledging and ensuring the right to interpret the law of the court and the Competition Authority, the State Bank can determine and resolve unfair competition cases in banking activities, and create typical precedents for determining and resolving unfair competition cases in banking activities of commercial banks.

In short, combating unfair competition in banking activities of commercial banks is an important solution for sustainable development of the commercial banking system in international integration. Analyzing the development trends, needs and urgency to improve the law against unfair competition in banking activities of commercial banks in Vietnam.

Vietnam shows that the completion of legal regulations on anti-competition

Unfair competition in banking activities of commercial banks will create a legal basis for detecting and handling unfair competition in banking activities of commercial banks; effectively preventing negative consequences from unfair competition in banking activities of commercial banks. Legal regulations on combating unfair competition in banking activities of commercial banks are only feasible if they are carried out simultaneously with raising awareness and practicing social responsibility of commercial banks, establishing the ethical foundation, banking business culture as well as the right to interpret the law of the court and the Competition Management Agency, the State Bank.

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when identifying and resolving unfair competition cases in banking activities.

CONCLUDE

Combating unfair competition in banking activities is a comprehensive process of not only applying legal regulations on combating unfair competition in banking activities but also raising awareness and practicing social responsibility of commercial banks, establishing the foundation of ethics, banking business culture as well as the right to interpret the law of the court and the Competition Authority, the State Bank when determining and resolving unfair competition cases in banking activities, in which, perfecting the legal basis for combating unfair competition in banking activities of commercial banks is the top priority solution.

In the context that Vietnam has not yet developed legal regulations to combat unfair competition in banking activities of commercial banks, the recommendations and solutions mentioned in the Thesis are of great significance for forming a theoretical and practical basis for orienting the development and implementation of laws on combating unfair competition in banking activities of commercial banks. From the research results of the Thesis, we draw the following basic conclusions:

1. Combating unfair competition in general and combating unfair competition in banking activities of commercial banks in particular is a broad and complex issue, directly related to the implementation of national monetary policy, public confidence in the commercial banking system as well as the level of ensuring the safety of banking activities and the system of credit institutions.

Experience from other countries shows that the expansion of banking operations is always associated with the requirement to ensure the safety of banking operations and the banking system.

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system of credit institutions. Therefore, for a long time, many countries have not applied competition regulations to commercial banks. However, the development and expansion of the banking market, especially in the trend of globalization and liberalization of the financial market, ensuring the right to operate and compete in banking activities is recognized as an objective reality. And therefore, the fight against unfair competition in banking activities must also be raised as a consequence of this recognition.

2. In Vietnam, the banking market has been officially formed since the State recognized and established the two-tier banking model. Regulations on unfair competition in banking activities in our country have been formed since the establishment of the two-tier banking model and over time, the concept of unfair competition in banking activities of commercial banks has changed from illegal competition to unfair competition and unfair competition behavior is approached from a negative perspective that needs to be prevented.

The regulations on combating unfair competition in banking activities of commercial banks in Vietnam have only stopped at the general principles of "prohibiting unfair competition in banking activities". Vietnam has not yet had specific regulations on unfair competition in banking activities and the practice of handling unfair competition at the Competition Management Department has not yet had any cases of unfair competition in banking activities handled. However, the practical developments of the banking market in Vietnam show that unfair competition in banking activities of commercial banks have appeared. The way to handle this by competent state agencies is to prevent or handle administrative violations. Basically, it can be seen that the above handling method does not fully reflect the nature of combating unfair competition in banking activities.

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3. The practical development of the banking market combined with the manifestation of unfair competition in banking activities of commercial banks in Vietnam in recent times shows that it is time to develop legal regulations to combat unfair competition in the activities of commercial banks and is considered an important solution to combat unfair competition in banking activities of commercial banks.

The analysis and recommendations in the thesis have identified the development trends of the banking market that affect competition and unfair competition in the banking activities of commercial banks. The thesis has explained the objective basis for perfecting the law against unfair competition in the banking activities of commercial banks and proposed groups of solutions to contribute to the development, completion and implementation of the law against unfair competition in banking activities to ensure feasibility in the following aspects:

Identify unfair competition practices in banking activities in accordance with the reality of the Vietnamese banking market. Describe and identify necessary notes when regulating and handling unfair competition practices in banking activities of commercial banks.

Proposing to amend and supplement a number of current legal regulations to comply with the requirements of combating unfair competition in banking activities of commercial banks in Vietnam.

To effectively combat unfair competition in banking activities of commercial banks, in addition to being based on a clear and specific legal foundation, it is also necessary to rely on the awareness and practice of social responsibility of commercial banks; the ethical foundation and culture of banking business as well as the right to interpret the law of competent state agencies when determining and resolving unfair competition cases arising in banking activities of commercial banks.

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