A 26 year old man who was a former employee of an undisclosed bank has been charged in court on 12 Nov for his alleged involvement in certifying documents which were forged for usage in the application of credit cards and personal loans.
The man was contracted as a bank loan officer during the time of the offence.
What happened
It all began in April 2020 when the Police received a tip off that CPF statements and payslips which were forged are being used to apply for personal loans and credit cards with the bank.
There were four separate applications.
Further investigations by the Police showed that these applicants were respondents to social media advertisements and have been directed by a third party to make their applications at the bank where the accused was working at.
The offences were said to be carried out between February and April of 2020, where the man was said to have certify documents which were forged as authentic and have them submitted together with the applications of these applicants even though he was suspicious of the authenticity of the documents.
For the approved applications, the applicants will then withdraw the facilities in full and pay a fee ranging from 40%-55% of the amount withdrawn and hand it over to the third party.
Penalties
Under section 471 of the Penal Code, any individual found guilty of using a forged document as authentic is liable to imprisonment of not more than four years, a fine or both.
The Police also said that they take a serious view against personnel involved in using, assisting to use forged documents to apply for credit cards or bank loans.
Such perpetrators will be dealt sternly with the law.
The public are also advised not to respond to advertisements from third parties that offer secure credit facilities without the need to show their proof of income.
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