The Hong Kong Securities and Futures Commission has imposed a lifetime ban on Mr Chan Ka Him, a former insurance specialist of Standard Chartered Bank (Hong Kong) Limited, prohibiting him from re-entering the industry following criminal convictions for insurance fraud. Chan was sentenced to 20 months’ imprisonment after being convicted of three counts of fraud and one count of attempted fraud. The case related to conduct in 2019 in which he assisted two clients to take out insurance policies with an external insurer, then induced one client to transfer USD 52,300 and the other to transfer over HKD 420,000 to a bank account connected to him on the pretence the money would be used to settle premium payments, and later attempted to cancel the clients’ policies by falsely claiming to the insurer that the clients wished to do so. The SFC concluded Chan is not fit and proper to be a regulated person because of his criminal convictions.
Hong Kong Securities & Futures Commission 2025-01-06
Hong Kong Securities and Futures Commission bans former Standard Chartered Bank insurance specialist Chan Ka Him for life after insurance fraud convictions
The Hong Kong Securities and Futures Commission has permanently banned Mr Chan Ka Him from the industry due to criminal convictions for insurance fraud. Chan was sentenced to 20 months in prison for defrauding clients in 2019, involving USD 52,300 and over HKD 420,000. The SFC determined Chan is unfit to be a regulated person.