Ex-bank manager bribing colleague for referring mortgage loan clients to financial intermediary charged by ICAC
2022-10-31
The ICAC today (October 31) charged a former bank manager with bribing a colleague for referring residential mortgage loan clients of the bank to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions.
Amy Chow Bik-sum, 46, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), faces one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance. She was released on ICAC bail, pending her appearance at the West Kowloon Magistrates’ Courts on Wednesday (November 2) for plea.
At the material time, the defendant was posted to a branch of OCBC Wing Hang Bank in Tsim Sha Tsui. She was required to handle residential mortgage applications.
OCBC Wing Hang Credit Limited (OCBC Credit) is one of the subsidiaries of OCBC Wing Hang Bank.
It is alleged that about July 15, 2021, the defendant requested a colleague to refer residential mortgage loan clients of OCBC Credit to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions, and offered 70% of the agency referral fees the financial intermediary would obtain to the colleague as a reward.
The ICAC investigation arose from a corruption complaint. OCBC Wing Hang Bank has rendered full assistance to the ICAC during its investigation into the case.
In order to assist the banking industry in building and strengthening its corruption prevention capabilities, the ICAC had collaborated with the industry to produce a practical guide. The ICAC will continue to join hands with the industry to promote integrity and anti-corruption messages to banking practitioners.
“Bank on Integrity – A Practical Guide for Bank Managers”: cpas.icac.hk/EN/Info/Lib_List?cate_id=3&id=230.
Dedicated webpage promoting integrity in the banking industry: hkbedc.icac.hk/en/sector_industry/banking_and_finance.
Amy Chow Bik-sum, 46, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), faces one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance. She was released on ICAC bail, pending her appearance at the West Kowloon Magistrates’ Courts on Wednesday (November 2) for plea.
At the material time, the defendant was posted to a branch of OCBC Wing Hang Bank in Tsim Sha Tsui. She was required to handle residential mortgage applications.
OCBC Wing Hang Credit Limited (OCBC Credit) is one of the subsidiaries of OCBC Wing Hang Bank.
It is alleged that about July 15, 2021, the defendant requested a colleague to refer residential mortgage loan clients of OCBC Credit to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions, and offered 70% of the agency referral fees the financial intermediary would obtain to the colleague as a reward.
The ICAC investigation arose from a corruption complaint. OCBC Wing Hang Bank has rendered full assistance to the ICAC during its investigation into the case.
In order to assist the banking industry in building and strengthening its corruption prevention capabilities, the ICAC had collaborated with the industry to produce a practical guide. The ICAC will continue to join hands with the industry to promote integrity and anti-corruption messages to banking practitioners.
“Bank on Integrity – A Practical Guide for Bank Managers”: cpas.icac.hk/EN/Info/Lib_List?cate_id=3&id=230.
Dedicated webpage promoting integrity in the banking industry: hkbedc.icac.hk/en/sector_industry/banking_and_finance.