The private banking arm of OCBC has reportedly let go of staff over misuse of medical benefits.
Up to 40 staff have left Bank of Singapore following an investigation of historical medical claims that found misuse, according to an «efinancialcareers» report. According to a separate «Straits Times» report, the probe found items submitted for claims that were not permitted like supplements, bird’s nest and skincare products.
«Where wrongdoing is alleged, the matter will be investigated and reviewed according to the bank’s investigative and disciplinary framework,» said a spokesperson for the bank. «Should any wrongdoing be found after the conclusion of investigation and necessary disciplinary inquiry, the appropriate disciplinary actions will be undertaken.»
Bank Punishment
Hundreds were involved in the internal probe which resulted not only in employees being let go but also misused medical benefits being repaid and some bonuses not being given.
Bank of Singapore's insurance scheme is believed to allow employees to claim up to S$10,500 ($7,720) for medical and dental expenses.
