7 Bank Officers Fired For Involvement In Op Sky

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A source said the bank started investigating the officers after identifying suspicious data in personal financing loans approved by staff members in its sales department.
PETALING JAYA: Seven bank officers were fired last month after they were found to have received bribes from agents of a financial consulting company to approve loan applications for civil servants that exceeded their eligibility.
A source told Berita Harian that the seven officers were among 18 bank employees arrested by the Malaysian Anti-Corruption Commission (MACC) in Op Sky, a joint investigation with Bank Negara Malaysia (BNM) into allegations of corruption and money laundering at a financial consulting firm.
A source said the bank dismissed the seven officers after an internal investigation which lasted nearly six months.
“We understand that these borrowers were manipulated into taking out loans beyond their ability to repay and are now carrying substantial debt,” said the source.
“There may be ways to assist them in avoiding bankruptcy actions, especially as most of the borrowers are civil servants (teachers).”
The bank started investigating the officers last July after identifying suspicious data in personal financing loans approved by several staff members in the sales department.
It found the possible involvement of third-party agents when customers submitted loan applications to other financial institutions simultaneously.
The bank’s management then ordered a detailed investigation. It also lodged five police reports and informed BNM.
A total of 27 people have been arrested under Op Sky, with MACC freezing RM80 million in assets belonging to the financial consulting firm. - FMT

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