Singaporean authorities made charges against three separate cases of financial crime in one day single day with losses totalling $2.6 million.
Shen Tsu-kuang, former director of Linden Asset Management (Belize), was accused of making an unauthorised transferal of S$2.4 million ($1.8 million) on behalf of a BNP Paribas client into her employer’s account.
Tan Chen Yen, former banking operations specialist with Pictet, allegedly misappropriated about $900,000 of cash from the safe and replaced them with counterfeit and blank notes while also manipulating accounts.
Ng Eu Hou, a former loan officer with DBS, allegedly deceived two victims into inputing their ATM PIN to apply for loans amounting to around $3,000 without their consent or knowledge. Upon discovery of the loans, victims contacted Ng at which point he told them it was an error and advised them to return the funds to the bank and gave them his own personal account for transferal.
Singaporean police authorities noted its commitment to combat misconduct that comprises the integrity of the banking and financial sector, according to a «Strait Times» report.
