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A $12.4 billion banking corruption scandal, the largest in Southeast Asia, has emerged in Vietnam. Truong My Lan, real estate developer and majority stakeholder of Saigon Commercial Bank (SCB), is accused of embezzling funds through over 1,000 subsidiaries and shell companies. The scandal has highlighted weaknesses in Vietnam's banking system, leading to calls for improved regulations and inspection mechanisms. The Communist Party's anti-corruption campaign is ongoing, with more major scandals and arrests expected, including of former party boss Le Thanh Hai.

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