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Ex-Citibank staff fined $40k

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Home > Breaking News > Singapore > Story
April 8, 2009
Ex-Citibank staff fined $40k <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong, Courts Correspondent </td></tr> <tr valign="bottom"> <td width="330">
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Low was the first ex-Citibank vice-president to be dealt with. She had been fined $173,000 after pleading guilty to 22 charges. The cases against four others are pending. --ST PHOTO: SHAHRIYA YAHAYA
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A FORMER Citibank employee was fined a total of $40,000 on Wednesday for extracting bank and customer confidential information from the bank's computer database and destroying documents.

Valarie Lim Ming Huey, 31, was a service relationship manager at Citibank's Orchard Road branch and was assisting relationship manager Low Siok Liang also known as Carel, 34, at the time of the offences from February to April 2006.

Low was the first ex-Citibank vice-president to be dealt with. She had been fined $173,000 after pleading guilty to 22 charges. The cases against four others are pending. The Commercial Affairs Department began investigation after receiving reports between July 7 and Aug 1, 2006 from Citibank against several of its relationship managers for having extracted bank and customer confidential information from its computer database. The court heard that in January 2006, Low was thinking of leaving Citibank and during her interviews with rival UBS, she intimated that she wanted to bring along Lim as her marketing assistant. Both women accepted UBS's job offers and resigned from Citibank in early April that year (06). They joined UBS on April 13.

Between Feb 1 and April 7 (06), Low instructed Lim to compile and retain the Citibank customer information. Lim did so for 243 Citibank customers.
On March 30, one day before they accepted their appointments with UBS, Lim sent two e-mails containing six files to her personal e-mail account. Between March 2 and April 7, she accessed Citibank's work system to make hardcopy printscreens on three Citigold customers. In July, under writs of summons they received, the pair were asked to deliver up all Citibank-related materials. Instead, Lim suggested to Low that they destroy those documents not used in UBS and hand over those they had used to their lawyer while she was trying to list the Citibank documents at Low's flat on July 29 (06).
After dividing the documents to be destroyed between them, Lim burnt her stack but Low did not. Senior Counsel Michael Khoo had urged the court to impose lower fines on his client than Low who was more culpable and had instigated Lim to commit the series of offences. But the judge felt that as far as the destruction of documents charge was concerned, Lim's culpability was higher than Low as she had destroyed the documents. She fined her the maximum $10,000 on this charge.
 
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