The Hong Kong Securities and Futures Commission issues a lifetime ban against former ING Asia Private Bank's Choi Yuet Yan.

The Hong Kong Securities and Futures Commission continues to tighten its watch by a banker from a foreign firm from re-entering the financial services industry for life.

Choi Yuet Yan, a former employee of ING Asia Private Bank, was convicted by the District Court in June 2012 on seven counts of using false instruments and dealing with property believed to be proceeds of crime. She was sentenced to imprisonment of four years and eight months.

Choi created fraudulent letters authorising or instructing her employer to transfer funds held in a client accounts into accounts with other banks held by her family members, thus placing substantial client funds at risk. The SFC said she is "not a fit and proper person" as a result of her convictions. 

The announcement came barely a week after Jonathan Yan Cheuk of HSBC and Lum Ying Ling of Credit Suisse Hong Kong were also permanently banned from practicing in the Hong Kong financial services industry for fraud.