SINGAPORE - The Monetary Authority of Singapore banned two former bank employees for fraud and dishonest conduct following their convictions in the State Courts in separate cases.
Lu was convicted of abetment of cheating under the Penal Code , unauthorised modification of the contents of OCBC's system under the Computer Misuse Act and offences under the Corruption, Drug Trafficking and Other Serious Crimes Act. He was earlier sentenced to eight years and four months' imprisonment.
Lu also instigated his friend to impersonate his customers to place unauthorised forward FX orders with OCBC, in order to close off unauthorised FX trades that he had placed in those customers' accounts.
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