Former Bank Officer Faces Charges for Allegedly Forging $600,000 Fund Transfers

A former bank officer in Singapore is set to be charged in court on July 8 for allegedly forging money transfers from a customer’s account to another individual, who will also face charges.

The police were alerted in October 2019 to a case involving a 43-year-old bank officer who was accused of misappropriating funds from a client’s accounts. Investigations revealed that between March 9, 2015, and April 6, 2016, the man forged three fund transfer forms to move a total of $600,000 from the client’s account to another account held by a 42-year-old man.

The 42-year-old man then withdrew $549,000 from the transferred amount and gave it to the bank officer on multiple occasions during the same period.

The 43-year-old man will be charged with three counts of forgery for cheating, while both individuals will face three counts of acquiring property obtained through criminal conduct.

Additionally, the bank officer will face charges for other alleged offenses, including instigating someone to impersonate the client for unauthorized trades, making unauthorized payments from the client’s account, transferring funds without permission, accessing the client’s account without authorization, and tampering with evidence relevant to police investigations.

The bank where the officer was previously employed was not disclosed.