Ex-bank manager charged by ICAC admits bribing colleague for referring mortgage loan clients to financial intermediary
2023-4-19
A former bank manager, charged by the ICAC, today (April 19) admitted at the Kwun Tong Magistrates’ Courts that she had bribed a colleague for referring residential mortgage loan clients of a subsidiary of the bank to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions.
Amy Chow Bik-sum, 47, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance.
Deputy Magistrate Ms Erica Chong Ching-wai adjourned the case to May 5 for sentence, pending the defendant’s background and community service order reports. The defendant was remanded in the custody of the Correctional Services Department.
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 a subsidiary of OCBC Wing Hang Bank.
The court heard that on 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 so that the financial intermediary could earn the relevant referral fees. The defendant promised to offer 70 per cent of the referral fees to the colleague as commissions.
OCBC Wing Hang Bank did not allow its employees to offer, solicit or accept advantages its relation to its business. The defendant’s colleague did not accept the offer.
OCBC Wing Hang Bank had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Marc Andrew Corlett, assisted by ICAC officer Pan Pan.
To enhance the corruption prevention capabilities of banks, the ICAC has recently launched the “Corruption Prevention Guide for Banks” (cpas.icac.hk/EN/Info/Lib_List?cate_id=3&id=2728) which assists banks in managing corruption risks in core operations through analysing case scenarios and providing corresponding corruption prevention safeguards. To promote probity culture in the banking sector, an Ethics Promotion Programme for the Banking Industry was also launched, under which a self-learning animation series “Unveil the Secret: Integrity Myths in the Banking Industry” was produced to help frontline bank staff understand common corruption loopholes.
Amy Chow Bik-sum, 47, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance.
Deputy Magistrate Ms Erica Chong Ching-wai adjourned the case to May 5 for sentence, pending the defendant’s background and community service order reports. The defendant was remanded in the custody of the Correctional Services Department.
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 a subsidiary of OCBC Wing Hang Bank.
The court heard that on 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 so that the financial intermediary could earn the relevant referral fees. The defendant promised to offer 70 per cent of the referral fees to the colleague as commissions.
OCBC Wing Hang Bank did not allow its employees to offer, solicit or accept advantages its relation to its business. The defendant’s colleague did not accept the offer.
OCBC Wing Hang Bank had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Marc Andrew Corlett, assisted by ICAC officer Pan Pan.
To enhance the corruption prevention capabilities of banks, the ICAC has recently launched the “Corruption Prevention Guide for Banks” (cpas.icac.hk/EN/Info/Lib_List?cate_id=3&id=2728) which assists banks in managing corruption risks in core operations through analysing case scenarios and providing corresponding corruption prevention safeguards. To promote probity culture in the banking sector, an Ethics Promotion Programme for the Banking Industry was also launched, under which a self-learning animation series “Unveil the Secret: Integrity Myths in the Banking Industry” was produced to help frontline bank staff understand common corruption loopholes.