Former bank officer charged with transferring $600k from client’s account

SINGAPORE – A former OCBC Bank officer who allegedly made unauthorised transfers totalling $600,000 from a client’s bank account, and paid almost $90,000 in credit card bills using the client’s money, was hauled to court on July 8.

Goi Wee Shien, 43, was handed 16 charges over cheating, money laundering and forgery, among other offences.

Between March 2015 and April 2016, Goi allegedly forged three OCBC funds transfer forms to transfer $600,000 from the client’s bank account to a POSB account maintained by one See Daoen.

See, 42, was then said to have withdrawn part of the fraudulent proceeds amounting to $549,000, and handed the money to Goi on different occasions.

On July 8, See was handed three charges over allegedly acquiring property with his POSB bank account despite having reasonable grounds to believe that such property represented Goi’s benefits from criminal conduct.

See is expected to plead guilty on Aug 19.

From February 2018 to September 2019, Goi is accused of instigating another person to impersonate a bank client to carry out pre-trade voice log confirmations over the phone, for the execution of 48 trades in this client’s account.

Goi also allegedly made 12 unauthorised payments from the client’s bank account to cover credit card bills totalling $89,999.91 via the AXS mobile application, and made unauthorised fund transfers totalling $73,000 to third parties.

Further, Goi was charged over unauthorised access to the client’s internet banking account on two occasions to change the client’s registered phone number to that of another person, and to alter the mode of delivery of bank statements.

He also allegedly made unauthorised bookings for complimentary limousine airport transfer services under his client’s name on three occasions and obstructed the course of justice by disposing of electronic devices which he knew contained evidence that was relevant to police investigations.

His case was adjourned, and he is expected to return to court on Aug 5.

In response to queries by The Straits Times, an OCBC spokesman said that upon discovering the fraudulent transactions in October 2019, the bank made a police report and dismissed Goi.

The spokesman added: “We take a serious view of such matters and will not tolerate any employee’s breach of the bank’s code of conduct. We expect the highest ethical and professional standards from our employees.”

The police said they take a serious view of these offences, adding: “Bank employees who abuse their positions of trust for personal gain, and individuals who assist them in such criminal activities, will face the full force of the law.”

Those convicted of forgery for the purpose of cheating can be jailed for up to 10 years and fined.

Those who acquire property which represents benefits from criminal conduct can be jailed for up to 10 years, fined up to $500,000, or both.

If found cheating, an offender can be jailed for up to 10 years and fined.