THE state of Malaysia's financial sector must really be at the terminally ill level, if we are to use Bank Negara's July 2018 Employee Screening Guidelines as a measure.
CONSIDER this betwen 2020 and 20220 some READ : RM5.2 Billion Were Lost To Scams In Malaysia. The situation is not expected to improve anytime soon, despite the MACC' best effort to even the odds.
CLEARLY, there are a lot of rouge executives that are working in banks of late. The question, we should ask ourselves are, how on earth did this people get employed by banks by the drove?
BANK Negara on July 2018, implementated an Employee Screening Guideline, which is not only confusing but is toothless,because the Central Bank for reasons best known only to them have been lax in implementing the guidelines.
IF indeed, the behaviours of individuals employed by a financial institution, is precieved publicly to be a reflection of the broader state of conduct and culture within the financial sector, then from a public relations perspective WE ARE IN DEEP SHIT.
ANWAR Ibrahim can thank Bank Negara Malaysia, if one of this days, a news man were to ask the Prime Minister cum Finance Minister, why is it Victor Chin Boon Long, Francis Leong Seng Wui are still in the business of managing payment getways when they have a host of legal issues that has everything to do with the quest of swiping other people's money easily.
CONSIDER this, the Royal Malaysian Police themselves made a police report so that it can deepen the probe against Victor Chin Boon Long, on the missing RM30 million at Classita Bhd.
THIS is not the only, case involving hijacking money and Victor Chin Boon Long. Last November, self made millionaire, Koo Tee Yam, took the Vincent Chin dominated Classita to court after the company failed to reimburse him some RM3.9 million he had advanced the company.
FOR many months, the narrative was Tee Yam was making a false claim, but lo on behold , Victor Chin Boon Long who is under tremendous pressure of facing jail time suddenly makes a U turn and admits that indeed the renowned businessmen had advanced the cash to the lingerie maker.
HOW come it took five months, for Classita Board to admit it, and during the five month period, atleast one unaudited quarterly results were announced by the company.
ONE wonders, what were the internal auditors and external auditors doing . READ : Classita Board Says That Koo Tee Yam advanced the company large amount of money, after months of denying the businessmen's claim
IF, Victor Chin Boon Long is white collar, then Francis Leong Seng Wui is a blue collar type of guy.
SIMILAR to Victor Chin Boon Long, Francis Leong Seng Wui is not a one time offender.either.
READ : Dino, Brian lapor polis ugutan Mafia Korporat Chong Loong Men, Leong Seng Wui rampas Revenue Group.
TO cover it's back side, one can safely say Bank Negara will point to the following clause in its employee screening guideline as a get out of jail card.
THE sub clause states : Prospective employees must provide a statutory declaration on past criminal convictions or ongoing criminal investigations or proceedings that he/she may be the subject of.
BUT then again this sub clause is actually ment for the rank and file officials at banks and at gateway payments and NOT for the top officials of the company.
BANK Negara Malaysia has the power to ask Victor Chin Boon Long and Francis Leong Seng Wui to step aside temporarily to calm public nerves, but hasn't done so, and who can blame them, considering if something goes seriously wrong at this payment gateway, it is not the central bank's tush that will be on fire, rather it is Anwar Ibrahim who will get BURNED.
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