Citibank computer fraud

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By The Telegraph Online
  • Published 4.08.04
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Singapore, August 3 (Reuters): A senior Citibank executive in Singapore has been charged with embezzling S$4.8 million ($2.8 million) from the US-based bank over 7 years using its computer system, a newspaper reported today.

The 38-year-old man, accused of using Citibank’s computers to transfer the money into his own account and those of several others between May 1996 and August 2003, was charged with 104 counts under the Computer Misuse Act, the Straits Times said.

The case, Singapore’s biggest reported fraud under the Computer Misuse Act, was heard in a district court on Friday and reported today. It follows several high-profile attempts at computer bank fraud in Singapore, a major Asian financial hub.

The man is in custody in Singapore and will appear again in court on August 13, a court official said.

In October 2002, an OCBC Bank Ltd. assistant manager, Quek Liang Kiat, was jailed for 5 years for stealing S$800,000 from the bank under the Computer Misuse Act, the Straits Times said.