MAS bans six individuals for fraud

Four former insurance agents and two bank employees were charged.

The Monetary Authority of Singapore (MAS) has banned six individuals for fraud and dishonest conduct, effective 18 March.

The regulator issued prohibition orders (POs) against four former insurance agents, namely Poh Kim Chuan of Great Eastern Life, Chew Kheng Swee of Prudential Singapore, Kelvin Goh Shang Fei of NTUC Income, and Allan Lam of AIA Singapore.

Former bank employees Yap Bin Chun and William Lin Weiwen of UOB and OCBC, respectively, were also banned.

The regulator issued a 12-year PO for Poh, 10-year POs for Chew and Yap, an 8-year PO for Lin, and 6-year POs for Goh and Lam. All of them are prohibited from taking part in financial advisory services within the respective periods.