SFC Bans Former Bank of China Employee For Forgery

Daniel Lik who was previously sentenced by the Eastern Magistrates' Court to a two-months jail term.
Photo: Finance Magnates

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has banned a former staff of Bank of China from re-entering the industry for life after he was convicted of stealing an estimated

$40,000.

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The SFC disciplinary action was taken against Daniel Chen Chi Lik who was previously sentenced by the Eastern Magistrates’ Court to a two-months jail term in October 2016. Daniel stolen the money from a teller cash box assigned to him when he was manager at a branch of Bank of China (Hong Kong) Limited (BOCHK) in September 2016. Through the course of their investigation, detectives say Daniel withdrew money from customers’ accounts and deposited the money in his account or a friend’s account.

As such, the SFC said that Mr. Chen had been guilty of manipulating the books to cover up the stolen cash and thus he is no longer a fit and proper person to remain ‎or be licensed. In addition, the regulator has surmised that the concerned action ‎is considered very serious misconduct as damages his banking integrity.

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