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HK SFC Bans Former DBS Investment Counsellor for 6 Months for Client Data Breach

The Securities and Futures Commission (SFC) has banned former DBS Investment Counsellor, Chan Wai Nun, from re-entering the industry for six months from 19th January 2018 to 18th July 2018 for client data breach.

“ HK SFC Bans Former DBS Investment Counsellor for 6 Months for Client Data Breach “

In December 2015, Wai Nun had transferred personal data of 208 clients from his work email account at DBS HK to his personal email client.  In February 2016, 2 months before starting his new job at another bank, he forwarded the client list to his would-be supervisor personal email account, who then forwarded to the work email account.  The email with client data was identified by the new employer during its email surveillance, and the origin was traced back to Wai Nun.

Wai Nun was in breach of the Personal Data (Privacy) Ordinance (PDPO) and the Code of Conduct for Persons Licensed by or Registered with the SFC (Code of Conduct).  In deciding the sanction, the SFC took into account all relevant circumstances, including Chan’s remorse and admission of his misconduct, as well as his otherwise clean disciplinary record.  The case was referred to the SFC by the Hong Kong Monetary Authority (HKMA).

Source: Official Press Release

 

About DBS Bank

DBS Bank
DBS Bank

DBS Bank Ltd (SGX:D05) is a Singaporean multinational banking and financial services company. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank. Founded in 1968, DBS acquired POSB (Post Office Savings Bank) in 1998. With over 280 branches across 18 markets in Asia, DBS serves over four million customers in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia.

  • Origin : Singapore
  • Assets : SGD 458 billion
  • Revenue : SGD 10.8 billion
  • Employees : 22,000

Official Website: www.dbs.com

 

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