Background The BNI Bank burglary case became an issue that shocked the Indonesian people in late 2003, where BNI Bank suffered a loss of IDR 1.7 trillion which allegedly occurred due to a fictitious export transaction via letter of credit (abbreviated L/C). This case is phenomenal because in addition to being detrimental to the finances of Bank BNI, it also impacts the state's finances at the macro level. Brief Profile of BNI Bank BNI Bank was founded in 1946. This public company is majority owned by the government of the Republic of Indonesia. Bank BNI is the third largest bank in Indonesia after Bank Mandiri and BCA, with total assets in 2003 of IDR. 131.49 trillion.VisionBecome a proud, nationwide bank that excels in service and performanceMissionMaximize value for stakeholders by providing financial solutions focused on the business, enterprise and consumer market segmentsLearning culture 'company1. BNI is a commercial bank with the status of a public company.2. BNI is market and national development oriented.3. BNI continuously builds mutually beneficial relationships with its customers and business partners.4. BNI recognizes the role and respects the interests of employees.5. BNI strives to create a spirit of conviviality so that employees carry out their duties and obligations in a professional manner.B. Case Summary: This horrific affair first came to light when BNI conducted an internal audit in August 2003. The audit revealed that there was an incredibly large euro position, worth 52 million euros. The large movements in euro positions were suspicious because the circulation of the euro in Indonesia was limited and the performance of the euro was good at that time. The audit ultimately revealed that there was a very large opening of L/C and the state would lose over a trillion rupees. The explanation regarding the fictitious BNI L/C is as follows: - Time of incident: July 2002 to August. 2003- Opening of the bank: Rosbank Switzerland, Dubai Bank Kenya Ltd, The Wall Street Banking Corp and Middle East Bank Kenya Ltd. - Total value of the L/C: 166.79 million USD and 56.77 million EUR or approximately 1,000,000,000 Rp. 1.7 trillion - Beneficiary/Beneficiary of the L/C: 11 companies of the Gramarindo group and 2 companies of the Petindo group- Export goods: Quartz sand and oil residues- Export destination: Congo and Kenya- Scheme: Usance L/CKronology:1. The Bank BNI Kebayoran Baru branch received 156 letters of credit from the issuing banks: Rosbank Switzerland, Dubai Bank Kenya Ltd, The Wall Street Banking Corp and Middle East Bank Kenya Ltd. Since BNI does not yet have direct correspondent relationships with some of the banks mentioned above, it uses mediating banks, namely American Express Bank and Standard Chartered Bank.2. The Beneficiary submits a request for discount on an export term note (export credit) on the above L/CL/C to BNI and is approved by BNI..