Two then bank employees charged by ICAC with bribery over account opening jailed for 10 months and six months

Two then bank employees, among five individuals charged by the ICAC, were today (April 14) sentenced to imprisonment of 10 months and six months at the Eastern Magistrates’ Courts for conspiring to accept bribes to assist clients referred by intermediaries in opening bank accounts.

Lo Wing-hang, 31, then insurance specialist of The Hongkong and Shanghai Banking Corporation Limited (HSBC), received a jail term of 10 months while Wan Hui, 32, then premier business manager of HSBC, was sentenced to six months’ imprisonment.

Both defendants earlier pleaded guilty to one count of conspiracy for an agent to accept an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.

In sentencing, Principal Magistrate Mr David Cheung Chi-wai remarked that bank staff must undergo anti-money laundering training. The account-opening activities of the two defendants did not merely affect HSBC; their handling of potential clients impacted the entire banking sector. Should bank staff encounter suspected money laundering cases, they are required to immediately report them to the relevant authorities. However, the two individuals engaged in corrupt conduct breaching the trust placed in them.

Having considered the span of the offences, the bribes involved, and the number of bank accounts opened, the court took a starting point of 15 months’ imprisonment for one defendant and nine months for the other. Their jail terms were reduced by one-third due to their guilty pleas.

Co-defendant Lo Cheuk-kim, 40, then premier relationship manager of HSBC, earlier pleaded guilty to one count of conspiracy for an agent to accept an advantage. His case is scheduled for sentencing on May 4.

Between November 2022 and February 2025, the three HSBC employees were posted to a branch in North Point. The court heard that Lo Wing-hang reached an agreement with two intermediaries to assist clients referred by them in opening bank accounts at HSBC, accepting bribes ranging from HK$500 to HK$1,500 for each successful application.

Lo Wing-hang later engaged his colleague Lo Cheuk-kim to assist in opening accounts and paid him HK$100 for each successful application. During this period, the duo accepted bribes totalling over HK$170,000 pursuant to their agreement.

Between October 2024 and February 2025, Wan assisted 12 clients referred by the two intermediaries to open bank accounts and accepted bribes totalling RMB6,000.

The court heard that the three bank employees assisted a total of approximately 250 clients referred by the two intermediaries in opening bank accounts. Seventy of these accounts, which were identified as having money laundering risks following assessment by HSBC, were referred to the relevant law enforcement agency for follow up action.

The two insurance agents cum intermediaries concerned, Han Jie and his wife Zhou Yinying, faced two counts of conspiracy for an agent to accept an advantage and one count of offering an advantage to an agent. Their case is scheduled for plea on May 4.

HSBC rendered full assistance to the ICAC during its investigation into the case.

The prosecution was today represented by ICAC officer Nathan Choi.

The ICAC has long attached great importance to the integrity of banking practitioners. With the full support of the Hong Kong Monetary Authority, the Hong Kong Association of Banks and the banking industry, the ICAC launched the Banking Industry Integrity Charter in 2024 to promote an integrity culture within the sector. The ICAC will continue to enhance its engagement with the industry under the framework of the Charter to heighten practitioners’ sensitivity to corruption risks, and provide continuous integrity training for bank staff.