Recently, Chinese netizens disclosed on social media that they had purchased fake gold bars from the Industrial and Commercial Bank of China (ICBC), prompting the bank to initiate an investigation into the matter. This incident has generated heated discussions among netizens and became a hot topic on May 9th.
According to reports from various Chinese media outlets including Jimo News on May 8th, a Chinese netizen revealed on May 7th that their friend had purchased gold bars from a certain bank and found impurities inside the bars.
The netizen shared in a WeChat group, “My friend bought these gold bars from the bank, and when melted, this is what they found inside. The bank’s attitude was tough.” In the picture posted by the netizen, two gold bars are shown, one of which is stamped with the words “ICBC Bank,” with one of the bars cut open to reveal what appears to be black impurities inside.
The netizen mentioned that the gold bars were intended to be taken to a gold store for exchange into jewelry after being picked up from the bank. They mentioned, “Fortunately, the bars were not opened, and we requested video footage from the store.” “Initially, the bank thought it was the store’s fault. Later, my friend pointed out that the bar’s serial number and logo were present, matching the bank’s records.” “For those who have exchanged bars before, consider melting them down to check.”
Upon viewing the images, some netizens questioned, “Selling fake gold bars?” “What is the black substance inside? Not pure gold?”
Huashang Daily revealed that in the chat records of netizens, the name of Nanxiang Branch was mentioned, suggesting that the bank in question might be the Shanghai Nanxiang Branch.
As reported by Tencent News on May 9th, the netizen purchased the gold bars from a branch of ICBC.
Tencent News further disclosed that ICBC had a similar suspected case back in 2012, to which the bank responded by emphasizing their strict control over the quality of products from raw materials to sales, with each bar having a quality certificate and a promise to repurchase bars sold by them.
On May 8th, a staff member of the bank stated to Huashang Daily, “We are currently verifying the details of this incident and will not provide any response at this time.” “Any further progress on the verification and handling will be addressed by a designated person.”
According to Tencent News, citing an analysis from a responsible person at the bank, potential issues may have occurred in different stages such as the gold inspection process, logistics, and customer transactions, leading to the possibility of inconsistencies in the product.
The bank’s representative further analyzed that the most likely point of problem could be in the production and packaging stages where counterfeiting occurred, compounded by random quality inspections, potentially resulting in oversight.
Regarding the responsibility of the bank in this matter, the aforementioned individual stated, “From a financial perspective, while the bank has stringent processes, individual loopholes cannot be completely ruled out. However, the overall probability is extremely low due to the high cost of reputation damage. If this incident is genuine, those involved will face severe penalties.”
The disclosure of this news has sparked debates among netizens, with over four hundred participants engaging in discussions on Tencent’s website.
Netizen “Mr. A Liu” commented, “Let the bullets fly for a while. If there is organized fraud, the entire batch should be in question. If it is the buyers or those voicing complaints online engaging in falsification, it can be easily traced as banks package gold bars in plastic with bank labels, certificates, and serial numbers for easy tracking.”
“Wandering Plum” expressed concern, stating, “If even the bank’s gold bars are fake, ordinary people like us won’t know where to trust to purchase real gold.”
User “jxc7434” disclosed, “Fake gold has been widespread for years, and it takes audacity to buy without inspecting on the spot.”
Another netizen mentioned, “Tungsten is the metal with the closest density to gold. Fake gold bars layered with tungsten cores have appeared in the market, challenging identification solely by weight.”