The Hama branch of the Central Authority for Inspection and Control has uncovered a case of embezzlement and a cash shortage at the Agricultural Cooperative Bank branch in the city of Al-Suqaylabiyah (Salhab). The Authority stated that the shortage was discovered following a comprehensive audit of the bank's records and the reconciliation of its inventory accounts with the documented financial statements.
Mechanism of Financial Manipulation
The investigation revealed a significant discrepancy between the cash balance recorded in the bank's computer systems and the actual cash on hand. According to the findings, the manipulation was carried out through collusion between the branch manager and the cashier, who exploited their official positions to conduct only a superficial cash inventory.
The two individuals reportedly counted sealed cash bags from the outside without verifying their actual contents and deliberately altered the denominations marked on the bags. The investigation also found that cash had been kept outside the bank's official cash vault and was not entered into the official records. Instead, the funds were allegedly divided between the branch manager and the cashier.
The total amount embezzled was estimated at SYP 328,338,940 (three hundred twenty-eight million, three hundred thirty-eight thousand, nine hundred forty Syrian pounds, old currency).
Professional Negligence
In addition to the two principal suspects, the investigation found that two other employees had participated in the cash inventory process. Although there was no evidence of their direct involvement in the embezzlement, the Authority concluded that their negligence facilitated and enabled the fraudulent scheme.
Legal Measures Taken
Based on the investigation's findings, the Central Authority for Inspection and Control implemented a series of legal measures against those involved, including:
- Dismissing the branch manager and the cashier from their positions.
- Submitting a formal request to the Ministry of Finance to impose a precautionary seizure on the movable and immovable assets of the individuals involved.
- Issuing a travel ban against the suspects and referring them to the competent judicial authorities.
- Referring the other employees to the judiciary on charges of professional negligence and facilitating the embezzlement.
- Calling on the Director General of the banking sector to file a civil claim on behalf of the bank to seek compensation for the material and moral damages incurred.
The Authority concluded its report by emphasizing that these measures are part of its ongoing efforts to monitor public institutions, enforce laws aimed at combating administrative and financial corruption, and safeguard public funds.