Fake Claimant Gets Sun Life Insured Check
An insured person of Sun Life Philippines has found out that a check due to him of more than half-a-million pesos was given to a fake claimant who opened an account with HSBC Philippines using fake IDs.
Photo Insert: The complainant found out about the release of the check to a person purporting to be him just last month when he tried to get the insurance cover he purchased from Sun Life Philippines.
The insured, Cesar C. Chan, told The Financial District of the predicament he discovered about the issuance of a check for about P584,000 which represented a matured insurance cover he got from Sun Life.
The check was issued about four years ago and his research showed that the HSBC account where the check was deposited was opened by someone who claimed he was Cesar Chan with fake IDs to boot.
Under Bangko Sentral ng Pilipinas rules, a bank should stick to the strict KYC protocol or a bank should first determine if a client opening an account is what he purports to be, which means checking the government-issued IDs to the bank officials.
Chan found discovered that the check had been released to a person purporting to be him just last month when he tried to get the insurance cover he purchased from Sun Life Philippines. And to his dismay and frustration, he found out about the release of the check due him to HSBC.
He said he has no bank account with HSBC but he had accounts with BDO Unibank and China Bank. Chan is now trying to recover the insured amount due him from both HSBC and Sun Life.