trending Market Intelligence /marketintelligence/en/news-insights/trending/zDIGfqxcWdmD3Yqi1N27Ug2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: DBS Group employees arrested in Hong Kong over leaked customer data

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Report: DBS Group employees arrested in Hong Kong over leaked customer data

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, Bloomberg News reported Dec. 9, citing the city's Apple Daily.

Hong Kong's Independent Commission Against Corruption began investigating the bank after customer data was supplied to a telemarketing center in China, the newspaper reported, without naming a source for its information.

Telemarketers used customer data to try to get clients to borrow from the bank. Some DBS staff reportedly bribed department managers to obtain client data, the newspaper said.

DBS disputed the newspaper's report about the number of employees arrested but did not specify a number. The bank had already informed authorities after internal monitoring found irregularities, a DBS executive said.

The Hong Kong Monetary Authority will follow up with the bank, according to a statement of concern by the regulator.