A 26-year-old man who was formerly employed as a contract bank loan officer will be charged on in court on 12 November 2021 for his suspected involvement in using forged documents to support credit card and personal loan applications.
In April 2020, the Police received information that forged payslips and Central Provident Fund statements had been submitted to the bank to apply for credit cards and personal loans in four separate applications. Investigations revealed that the applicants had responded to advertisements on social media platforms and were directed by a third party to make the applications in person at the bank, where the 26-year-old man, who was then employed as a contract bank loan officer, had attended to them. Between February and April 2020, the man allegedly certified forged documents as genuine and submitted them together with the forms signed by the applicants, even though he had reason to believe that the documents were forged. For applications that were approved, the applicants purportedly withdrew the personal loan facilities in full and paid a fee of between 40% and 55% on the amount withdrawn to the third party.
Any individual found guilty of using as genuine a forged document under Section 471 of the Penal Code is liable to a fine, a jail term not exceeding four years, or both.
Financial institutions in Singapore require credit card and loan applicants to submit proof of their income. Members of public are advised not to respond to third party advertisements that offer to secure credit facilities from financial institutions, without requiring any proof of their income. The Police take a serious view against any person who may be involved in using, or assisting to use, forged documents to apply for credit cards and bank loans. Perpetrators will be dealt with in accordance with the law.
SINGAPORE POLICE FORCE
12 November 2021 @ 8:00 AM