Man to be charged after allegedly forging forms for $600,000 in fund transfers from bank customer
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SINGAPORE - A former bank officer is expected to be charged in court on July 8 after he allegedly forged forms for money transfers from a customer’s account to that of another man, who will also face charges.
In a statement on July 7, the police said they were alerted in October 2019 to a case where a 43-year-old bank officer had allegedly misappropriated or made unauthorised transfers and trades from a client’s accounts.
Investigations revealed that, between March 9, 2015, and April 6, 2016, the man had allegedly forged three fund transfer forms to move a total of $600,000 from the client’s bank account to another one maintained by a 42-year-old man.
The latter then allegedly withdrew $549,000 of that transferred amount and handed it to the 43-year-old man on various occasions between March 2015 and April 2016.
The 43-year-old man is to be charged with three counts of forgery for the purpose of cheating.
Both men will also be charged with three counts of acquiring property which represented benefits from criminal conduct.
Separately, the 43-year-old man will also face charges for several other alleged offences.
First, between February 2018 and September 2019, he allegedly instigated another person to impersonate the client to perform pre-trade confirmation over the phone for 48 unauthorised trades in the client’s account.
Next, between September 2018 and May 2019, he allegedly used the client’s bank account to make 12 unauthorised payments for credit card bills totalling $89,999.91. The man also allegedly transferred a total of $73,000 to third parties without the client’s permission.
In addition, he allegedly accessed the client’s internet banking account twice without authorisation to change the client’s registered phone number and how the client’s bank statements are delivered.
Furthermore, he allegedly made unauthorised bookings for complimentary limousine airport transfer services under his client’s name on three occasions and disposed of electronic devices which he knew contained evidence that was relevant to police investigations.
The bank he previously worked for was not named.
