Credit checks for employees and potential hires by financial institutions appropriate: MAS

It weighs in on employers' screening practice for potential hires after some raise concerns

DBS Bank and United Overseas Bank said they do credit screenings for all new hires, while OCBC Bank screens groups of employees. PHOTO: ST FILE
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In June, remisier Vincent Khoo was told he should go to his bank - with his work supervisor in tow.

His employer wanted him to get a statement from the bank, to prove that he had paid off one of his unsecured loans.

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A version of this article appeared in the print edition of The Straits Times on November 27, 2019, with the headline Credit checks for employees and potential hires by financial institutions appropriate: MAS. Subscribe