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Hong Kong authorities arrest 29 staff at 5 financial companies in bribery case

Hong Kong's Independent Commission Against Corruption arrested 29 serving and former employees of five financial institutions, including four banks, over bribery allegations.

The ICAC did not disclose the names of the financial institutions in its Dec. 12 statement, which came after a media report revealed that more than 20 current and former staff at DBS Group Holdings Ltd. were arrested in Hong Kong in connection with an alleged leak of customer data.

In response to media inquiries, the commission said it arrested three managers and 18 serving and former direct sales representatives of a bank, a manager and five serving and former employees of three other banks and two employees of a finance company for alleged bribery to disclose confidential customer information for marketing personal loan business.

The ICAC said it initiated investigations after receiving a corruption complaint. All of those arrested were released on bail and the ICAC continues to look into the matter.