MAS issues 8-year ban to former AIG, Liberty insurance agent

Yeo Siew Liang James was convicted of 18 counts of corruption in 2021.

The Monetary Authority of Singapore has issued an 8-year prohibition order (PO) against Yeo Siew Liang James, a former insurance agent of AIG Asia Pacific Insurance and Liberty Insurance, following his conviction for corruption offences.

Effective 22 May, Yeo is prohibited from carrying on business or taking part in the management of any insurance intermediary in Singapore for the period.

Yeo was convicted by the State Courts of 18 counts of corruption under Section 5 (b)(i) of the Prevention Corruption Act on 28 April 2021. He was sentenced to 15 months in prison and fined $21,363.30.

ALSO READ: MAS, New York Fed unveil results of study on DLT use for cross-border wholesale payments

Yeo is said to have given bribes amounting to $71,211 to Indonesian Embassy officials as a reward for accrediting AIG and Liberty to sell performance bonds to employers of Indonesian foreign domestic workers.

Yeo also reportedly gave a sum of $21,363.3 on 10 occasions to one other individual, in exchange for arranging with the embassy official to show favour to AIG and Liberty in the accreditation.

Follow the link for more news on

Monetary Authority of Singapore

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit