Ex-bank officer tried selling mailing lists of banks' clients to businesses

[lauhumku]

Jun 4, 2010
Ex-bank officer jailed
He tried selling mailing lists of banks' clients to businesses

<!-- by line --> By Khushwant Singh
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<!-- end left side bar --> <!-- story content : start --> IN THE first case of its kind to appear before the Singapore courts, a former personal financial consultant with Standard Chartered Bank was tried for attempting to sell confidential details of clients to marketing companies like spa chains and insurance firms targeting high nett worth customers. The sale of such mailing lists or leads is prevalent around the world and is largely responsible for unsolicited direct mailers and spam e-mail.

But Lucas Lin Han Tian broke banking secrecy laws and on Friday, the 26-year-old was jailed four weeks for disclosing confidential information belonging to his bank to accomplice Mahesalingam Kanasalingam, in 2008.
He was also fined $10,000 for his role in passing on personal and financial particulars of clients of United Overseas Bank (UOB) in the same year. He pleaded guilty last week. Mahesalingam, 28, has been charged but the case has yet to be heard. Lin could have been jailed up to three years and fined $125,000 for each of the two offences.

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[Yoshitsune Minamoto]

Jun 5, 2010

Ex-bank staff jailed
He is the first to be prosecuted for breach of bank secrecy laws

<!-- by line --> By Khushwant Singh
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start -->
A FORMER personal financial consultant with Standard Chartered Bank yesterday became the first person prosecuted here for violating banking secrecy laws. Lucas Lin Han Tian, 28, whose job gave him access to confidential details of the bank's high-net-worth clients, tried to sell their names and contact details to businesses like spa chains and insurance firms. The sale of mailing lists of potential clients, also called 'leads', is prevalent around the world and is largely responsible for unsolicited direct mailers and spam mail.

For passing on this kind of confidential information belonging to Standard Chartered Bank to his alleged accomplice Mahesalingam Kanasalingam in October 2008, Lin, who pleaded guilty, was jailed for a month. The case against Mahesalingam, 28, then a customer service manager at United Overseas Bank (UOB), is pending. Lin was also fined $10,000 for selling the personal and financial particulars of UOB clients, which he is believed to have obtained from Mahesalingam.

Read the full story in Saturday's edition of the Straits Times.
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