Two former employees of HSBC have been sentenced to prison for their roles in a bribery conspiracy to help intermediary clients open bank accounts. The sentencing took place on April 14th at the Eastern Magistrates' Courts.
Lok Wing-hang, 31, a former vice president of financial planning at The Hongkong and Shanghai Banking Corporation Limited (HSBC), was sentenced to 10 months imprisonment. Man Wai, 32, a former HSBC Premier Relationship Manager, received a six-month prison sentence. Both individuals had previously pleaded guilty to one count of conspiracy for an agent to accept an advantage, contravening the Prevention of Bribery Ordinance and the Crimes Ordinance.
The presiding magistrate, Clement Lee, emphasized during sentencing that bank employees undergo anti-money laundering training. He stated that the account-opening activities of the defendants did not impact only HSBC; the potential clients they handled could affect the entire banking industry. The magistrate noted that bank staff must report suspected money laundering cases immediately to relevant authorities, but the defendants engaged in corrupt acts that breached trust.
The court considered the duration of the offenses, the amount of bribes involved, and the number of accounts opened. The initial sentencing starting points were set at 15 months and 9 months imprisonment, respectively. These terms were then reduced by one-third due to the defendants' guilty pleas.
Another co-defendant in the case, Lo Cheuk-kin, 40, a former HSBC Premier Relationship Manager, had also pleaded guilty to a conspiracy charge. His sentencing has been adjourned until May 4th.
The three implicated HSBC staff members were employed at a North Point branch between November 2022 and February 2025. According to the case details, Lok Wing-hang made agreements with two intermediaries to assist their referred clients in opening accounts. He received bribes ranging from HKD 500 to HKD 1,500 for each successfully opened account. Lok subsequently arranged for his colleague, Lo Cheuk-kin, to assist with the account openings, paying Lo a bribe of HKD 100 per account. During the relevant period, Lok and Lo accepted bribes totaling over HKD 170,000.
Between October 2024 and February 2025, Man Wai assisted 12 clients referred by the same two intermediaries in successfully opening bank accounts, accepting bribes totaling CNY 6,000.
Throughout the period of the offenses, the three bank employees collectively assisted in opening approximately 250 bank accounts for clients referred by the two intermediaries. Following a review, the bank identified that over 70 of these accounts posed money laundering risks. These cases have been referred to the relevant law enforcement agencies for follow-up action.
The two intermediaries involved, who are also insurance brokers, Hon Kit and his wife Chow Yan-ying, have been charged with 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 a further hearing on May 4th.
The Independent Commission Against Corruption (ICAC) stated that it places great importance on the integrity and ethical conduct 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 Integrity Charter" in 2024 to continuously enhance the integrity culture within the industry. The ICAC will continue to strengthen communication with the industry under the Charter's framework to heighten awareness of corruption risks and provide ongoing integrity training for banking staff.