CRITICISM OF SINGAPORE BY TAIWANESE GOVERNMENT

Since 2004, EFG bank has had numerous cases against them. This does not take into account any unpublished cases that we do not yet know about.

In order to cover up any wrongdoing by their own employees, most of the cases are swept under the carpet in an effort to maintain the reputation of EFG bank. Many of their employees involved all hold Senior Management posts within the company. What is even more appalling is that even when under investigation or proven guilty, most of the accused employees like Albert Chiu, continue to hold their appointment within the bank.

A bank should be a trusted institution that acts with integrity with clients’ assets. This, however, has not been the case with EFG bank, as mentioned in the various articles above. The credibility of EFG bank, has in fact, been eroded by the conduct of their management staff over the years and it is evidently clear that the corporate culture of EFG bank is highly questionable.

It is baffling that such high counts of incidences have occurred under the watch of the Monetary Authority of Singapore, whether by oversight or otherwise. Furthermore, no investigation nor audit has ever been carried out against EFG all these years. The reputation of Singapore as a leading Asia Financial Hub has definitely been badly tarnished due to all the hubris surrounding EFG bank. This is evident in the recent criticism of Singapore by the Taiwanese government.

https://www.chinatimes.com/cn/newspapers/20160622001076-260901
http://finance.sina.com.cn/stock/usstock/c/20100728/20508381931.shtml
https://cn.reuters.com/article/%E9%A6%99%E6%B8%AF%E9%87%91%E8%9E%8D%EF%BC%9A%E7%91%9E%E5%A3%AB%E7%9B%88%E4%B8%B0%E9%93%B6%E8%A1%8C%E9%81%AD%E8%AF%81%E7%9B%91%E4%BC%9A%E8%B0%B4%E8%B4%A3%E5%8F%8A%E7%BD%9A%E6%AC%BE200%E4%B8%87%E6%B8%AF%E5%85%83%EF%BC%8C%E5%9B%A0%E6%9C%9F%E8%B4%A7%E4%BA%A4%E6%98%93%E8%BF%9D%E8%A7%84-idCNL4S1P62ZI

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