Compliance & Regulation

SFC in Hong Kong bans former DBS banker

Ex-DBS banker banned for transferring client data out of DBS HK prior to his departure to join another bank

The SFC found that in December 2015, Chan Wai Nunforwarded a list containing personal data of approximately 208 clients from his work email account at DBS Hong Kong to his personal email account. 

In February 2016, before he was due to commence his new employment with another bank, Chan then this list from his personal email account to the personal email account of an ex-colleague working for Chan’s new employer. Unknown to Chan, the ex-colleague then forwarded the client list to his work email account.   

The email containing the client data was identified by the new employer during its email surveillance and the origin of the email was traced back to Chan, resulting in his ban.

This action was in breach of DBS Hong Kong’s internal policies, the Personal Data (Privacy) Ordinance and the Code of Conduct for Persons Licensed by or Registered with the SFC.