Chitchat Local Bank Defrauded of $189k By Fake Bank Loan Applications! Guess Nationality?

[JohnTan]

SINGAPORE: Eleven men and five women have been arrested for their suspected involvement in the fake applications of bank loans that led to a bank being defrauded of more than S$189,000.

In a press release on Monday (Feb 27), police said it had received a report from a bank about loan applications from several individuals who had provided false information relating to their annual income in early February.

Upon disbursement of the loans, the borrowers defaulted on their loan repayment and could not be contacted.

Investigations showed that the suspects had used forged employment letters to support their application for the loans, police said, adding that the amount defrauded amounted to more than S$189,000.

Police subsequently launched a three-day operation from Feb 22 to 24, when they conducted simultaneous raids across the island, including locations such as Changi, Simei, Tampines, Sims Avenue, Buangkok Green, Ang Mo Kio, Toa Payoh, Yung Kuang, Telok Ayer, Chin Swee Road, Bukit Merah and Tuas. The 16 suspects, aged between 24 and 56, were arrested during the operation.

Investigations are ongoing. If convicted, the suspects could be jailed for up to 10 years and fined.

http://www.channelnewsasia.com/news...ting-bank-of-more-than-s-189-000/3552492.html

 

[gingerlyn]

Guess the race and nationality?

 

[CoffeeAhSoh]

Guess the race and nationality?

Who do you tink ???


U can more or less tell from the locations that were raided.

 

[frenchbriefs]

thats the evidence they got?a hp printer and a imac.

 

[Narong Wongwan]

16 people cheat only 189k. Wtf each one share how much only?

 

[scroobal]

Years ago, a whole group of teachers were arrested for making false claims for renovation loans where the contractor falsified invoices etc. The amounts were small and people were surprised that MOE teachers risked their rice bowls for such small amounts.

16 people cheat only 189k. Wtf each one share how much only?

 

[mojito]

Guess the race and nationality?

Sister ginfreely,
I summon thee!
Pardon my lamentations
But "It must be M********s!"

 

[The_Hypocrite]

The Bank is so desperate businesses that they disbursed the loan easily..They got do their due diligence?

 

[rocket]

Scamming is PRC jobs.

Malaysians not there yet.

 

[CoffeeAhSoh]

The Bank is so desperate businesses that they disbursed the loan easily..They got do their due diligence?

see if you can zero in on which bank involved ???


its in the piketures

 

[Narong Wongwan]

Years ago, a whole group of teachers were arrested for making false claims for renovation loans where the contractor falsified invoices etc. The amounts were small and people were surprised that MOE teachers risked their rice bowls for such small amounts.

Renovation loan scams used to be rampant until the clampdown.
Some went as far as doing actual renovations but inflating the invoices.

Modus operandi is not same in both models as the 189k fake loans scams involved patsies who never intended to repay the loans at all.
For the Teachers Reno loans the intention was to secure loans at preferential rates that the Teachers had every intention to repay.

 

[The_Hypocrite]

see if you can zero in on which bank involved ???


its in the piketures

Hahaha guess the bank?

 

[frenchbriefs]

The Bank is so desperate businesses that they disbursed the loan easily..They got do their due diligence?

like someone said,its small money....17 people only cheat 189k.......the bank already expect a certain portion of their loans to go bad,thats why they charged these unsecured loan interest juay juay......initial interest 8.88 p.a......if late payment,penalties and fines of up to 23 percent p.a......189k is chump change,they probably earn that much interest in one hour from all the hundreds of millions of their loans.....

 

[Hans168]

NO big deal........ Advance Gravis Computers cheated many banks local and foreign and suppliers in excess of $10,00,00.00 re paid only $50 monthly to creditors and finally got a long waited discharge............ he is now at home counting the money he stashed away - money which funny enuf wasn;t not detected by OA

 

[chootchiew]

Hi sir, just wondering when such thing happen will the bank fire those approving the loans as it means they are careless workers given too much authority which is not acceptable.

 

[CoffeeAhSoh]

Hi sir, just wondering when such thing happen will the bank fire those approving the loans as it means they are careless workers given too much authority which is not acceptable.

Its no longer a person or persons approving the loans thing for a long time already. Its a standard set of criteria things.
Eg. Input the applicant name and id and some sets of reports from external agencies to clear and the loan is approved or declined.
A very mechanical thing.

 

[garlic]

Who do you tink ???


U can more or less tell from the locations that were raided.

hahaha.... good one!

 

[congo9]

Guess the race and nationality?

What kind of bank heist is this ? SO many people conning only 189K from a bank ? Ever heard of retard. They might as well stay home and look for a job. Within a years with all of them combined, they will get much more.

What kind of stupid robber or conman does this ?

 

[congo9]

Its no longer a person or persons approving the loans thing for a long time already. Its a standard set of criteria things.
Eg. Input the applicant name and id and some sets of reports from external agencies to clear and the loan is approved or declined.
A very mechanical thing.

If that's the case, these bankers will be replaced by AI real soon. AI is being created to do repetitive task. No value add.