Former OCBC bank officer jailed for certifying, submitting false documents in customers’ credit card, applying for loans
SINGAPORE: A former OCBC bank loan officer was sentenced to eight months in prison on Tuesday (April 26) for certifying false income documents, which he submitted with customers’ credit card and loan applications.
Lau Wei Chong Nicholas, 26, faced three counts of using as forged true income documents, with another count of the same offense being considered in sentencing.
Police said in a press release that they received reports in April 2020 that fake payslips and false Central Provident Fund (CPF) contribution statements had been submitted to the OCBC as evidence. income to support four separate credit card and loan applications.
Surveys showed that applicants initially responded to loan advertisements they encountered on online platforms, which offered assistance in obtaining a loan or credit card from a bank at short notice and for service charge.
They were then contacted by unidentified third parties who asked them to apply for the credit cards or loans in person at certain OCBC branches.
The plaintiffs visited OCBC branches four times without providing any proof of income, and they were picked up by Lau.
“Claimants would normally hand over their original payslips and/or collect their latest CPF employment contribution statement in the presence of the loan officer,” police said.
“However, Nicholas did not ask the four claimants to show him the income documents in the aforementioned manner.
“Instead, he received their documents via email or WhatsApp and then certified them as authentic even though he had reason to believe they were not.”
Two of these claims were approved and OCBC suffered losses of nearly S$36,500.
Anyone found guilty of using a false document as authentic can be imprisoned for up to four years, fined, or both.
“Financial institutions in Singapore require credit card and loan applicants to show proof of income. Members of the public are advised not to respond to third party advertisements offering to secure credit facilities from financial institutions , without requiring any proof of income,” police said.
“Police take seriously anyone who may be involved in using or helping to use false documents to apply for credit cards and bank loans.”