today's edition of the straits times carried a report where a former aia agent, ms sally low ai ming, aged 34 years, is facing fraud and cheating charges, 4 of cheating, 11 for fraudulent use of forged documents and 4 of moving crime proceeds to bank accounts and to partially pay for a property.
all this came about from a police report more than a year ago by a customer, mr ong han ling, 72, who bought a fake 'AIA thank you" policy from ms sally low in november 2002 and remitted US$5.06 million to the latter.
ms sally was a former top agent in AIA and earned more than $300,000.00 in annual commissions from new policies in 1999 and 2000 but was sacked by AIA in septermber 2009.
my comments:
i remember many years ago how one of my company's advisers came back with a bag of $$$ and recounted that he was fearful for his life should he meet with an attempt to rob him on his way from from his client's place to our office.
apparently, his client is a chinese businessman who paid his single premium policy in cold hard cash which came to a high five figure amount.
not only is accepting cash for payment of premium, both cumbersome and administratively inefficent, ii may also be extremely dangerous for our adviser to collect it and transport it back to our office.
therefore, after this episode, our office has disallowed accepting cash for payment of premium many, many years ago and this simple rule will always ensure that our clientele's insurance policies will be incepted and kept-in-force for their peace of mind and ours.
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