I would like to draw your attention to the serious concern, which I want to highlight to DIB’s management.
“Breach of Confidentiality”
Arrangement between
Mr. Varghese Chacko -DIB employee & Mr. Renoy Kundukulam DIB's ex-employee currently Partnered with FINMARK Capital.
I was employed by Noor Bank and worked under Mr. Renoy until the merger. During the recruitment process, HR requested a police clearance letter and checked the backgrounds of all candidates, including myself.
After joining NOOR BANK, I noticed that Mr. Renoy hired one of his close family friend Mr. Varghese Chacko under his team. The same person with a criminal background engaged in fraudulent activity in the standard Priority banking Dubai. The Standard Chartered handed over Mr. Varghese Chacko to the local police station and a lawsuit was filed against him.
Standard Chartered has strong evidence to put him behind bars. He was eventually sentenced to prison. He was in custody for a long time until he was deported to India. Surprisingly Mr. Renoy only hired under him in Standard Chartered Priority banking. After returning to India, Mr. Varghese Chacko spent several years unemployed in India. You can check the employment history and verify the facts.
Later When Mr. Renoy joined NOOR BANK, as Head of wealth management and hired the same person in his team, with misleading information and without police clearance .
In this case, it was very clear that a Mr. Varghese Chacko was not a suitable candidate simply because of his criminal record. There was a significant discrepancy between the information provided by Mr. Renoy and Mr. Varghese Chacko, As he did not provide the criminal record information to the bank at the time of recruitment.
This was the decision made by the Mr. Renoy regarding the recruitment of Mr. Varghese Chacko’s procedures, and the point at which he did not ask HR to do a criminal record check. Mr. Renoy’s decision to hire Mr. Varghese Chacko was a great example of abusing his powers to obtain approval for personal good from someone in the HR department and other senior staff.
Mr. Renoy did not disclose this information as there were inconsistencies between the Information on the Mr. Varghese Chacko and criminal records provided.
Currently Mr. Varghese Chacko is still working at DIB and did not move with Mr. Renoy Who, left DIB and founded his Private Wealth Management company at DIFC (FINMARK CAPITAL ). This is Mr. Renoy’s strategic decision that Mr. Varghese must stay back as a DIB employee and able to provide all confidential information to Mr. Renoy and his company finmark Capital so that Mr. Renoy and his team (former NOOR /DIB employee)acted with all bank data and started approaching these customers.
Mr. Renoy never experienced customer interaction and worked face-to-face with the customer. Being into a management role he has all the access to the data he carries with him to start his own private wealth management business under the DIB Umbrella.
Mr. Renoy recruited the wrong candidate Mr. Varghese Chacko to manage his personal agenda and achieved this personal goal by taking all the customer's confidential data by recruiting Mr. Varghese Chacko and keeping him in the system under DIB.
Mr. Varghese Chacko and Mr. Renoy is risk to the DIB, thecompany's assets and customers with breach of confidentiality and having a serious criminal record and frankly spooling DIB’sreputation by promoting Finmark capital and mis selling on DIB as a brand.
During Mr. Renoy’s tenure, the entire bank witnessed Mr. Varghese Chacko didn’t generated any revenue or achieved his target to the bank and taking advantage of what he lawfully called Mr. Renoy as his Brother-in-law.
Mr. Renoy, offered him a job at NOOR Bank, now at in DIB, hired him for his personal goal and objective to run FINMARK Capital successfully.
This is to let you know that Mr. Renoy and Mr. Varghese Chackoviolate privacy. I request DIB to take serious action against thisthreat to the organisation and its Clients and warn Mr. Varghese Chacko to stop misusing and sharing confidential business information with Mr. Renoy and finmark Capital. This is a serious breach and caused significant damage to the business and customers.
When a Mr. Renoy and his team left DIB, they already took with them the data they had worked with during their stay in the company, and this is true as it calls out a few other customers andforces them to sell the existing investment with DIB to Re-invested with FINMARK Capital under Mr. Renoy and his teamsupervision.
Mr. Varghese Chacko is currently an employee of DIB, sends all customer contact data, Customer emails, details of theirorganization, positions, phone numbers etc to Mr. Renoy and Finmark Capital.
I am sure DIB will take the initiative and will file lawsuit against Mr. Varghese Chacko and Mr. Renoy under the Data privacy policy.
Otherwise, DIB should come as no surprise, so see FINMARK Capital’s success by supporting them with privacy breach.
VERGHESE CHACKO Reviews
To
Management of Dubai Islamic Bank
Dubai, UAE
I would like to draw your attention to the serious concern, which I want to highlight to DIB’s management.
“Breach of Confidentiality”
Arrangement between
Mr. Varghese Chacko -DIB employee & Mr. Renoy Kundukulam DIB's ex-employee currently Partnered with FINMARK Capital.
I was employed by Noor Bank and worked under Mr. Renoy until the merger. During the recruitment process, HR requested a police clearance letter and checked the backgrounds of all candidates, including myself.
After joining NOOR BANK, I noticed that Mr. Renoy hired one of his close family friend Mr. Varghese Chacko under his team. The same person with a criminal background engaged in fraudulent activity in the standard Priority banking Dubai. The Standard Chartered handed over Mr. Varghese Chacko to the local police station and a lawsuit was filed against him.
Standard Chartered has strong evidence to put him behind bars. He was eventually sentenced to prison. He was in custody for a long time until he was deported to India. Surprisingly Mr. Renoy only hired under him in Standard Chartered Priority banking. After returning to India, Mr. Varghese Chacko spent several years unemployed in India. You can check the employment history and verify the facts.
Later When Mr. Renoy joined NOOR BANK, as Head of wealth management and hired the same person in his team, with misleading information and without police clearance .
In this case, it was very clear that a Mr. Varghese Chacko was not a suitable candidate simply because of his criminal record. There was a significant discrepancy between the information provided by Mr. Renoy and Mr. Varghese Chacko, As he did not provide the criminal record information to the bank at the time of recruitment.
This was the decision made by the Mr. Renoy regarding the recruitment of Mr. Varghese Chacko’s procedures, and the point at which he did not ask HR to do a criminal record check. Mr. Renoy’s decision to hire Mr. Varghese Chacko was a great example of abusing his powers to obtain approval for personal good from someone in the HR department and other senior staff.
Mr. Renoy did not disclose this information as there were inconsistencies between the Information on the Mr. Varghese Chacko and criminal records provided.
Currently Mr. Varghese Chacko is still working at DIB and did not move with Mr. Renoy Who, left DIB and founded his Private Wealth Management company at DIFC (FINMARK CAPITAL ). This is Mr. Renoy’s strategic decision that Mr. Varghese must stay back as a DIB employee and able to provide all confidential information to Mr. Renoy and his company finmark Capital so that Mr. Renoy and his team (former NOOR /DIB employee)acted with all bank data and started approaching these customers.
Mr. Renoy never experienced customer interaction and worked face-to-face with the customer. Being into a management role he has all the access to the data he carries with him to start his own private wealth management business under the DIB Umbrella.
Mr. Renoy recruited the wrong candidate Mr. Varghese Chacko to manage his personal agenda and achieved this personal goal by taking all the customer's confidential data by recruiting Mr. Varghese Chacko and keeping him in the system under DIB.
Mr. Varghese Chacko and Mr. Renoy is risk to the DIB, thecompany's assets and customers with breach of confidentiality and having a serious criminal record and frankly spooling DIB’sreputation by promoting Finmark capital and mis selling on DIB as a brand.
During Mr. Renoy’s tenure, the entire bank witnessed Mr. Varghese Chacko didn’t generated any revenue or achieved his target to the bank and taking advantage of what he lawfully called Mr. Renoy as his Brother-in-law.
Mr. Renoy, offered him a job at NOOR Bank, now at in DIB, hired him for his personal goal and objective to run FINMARK Capital successfully.
This is to let you know that Mr. Renoy and Mr. Varghese Chackoviolate privacy. I request DIB to take serious action against thisthreat to the organisation and its Clients and warn Mr. Varghese Chacko to stop misusing and sharing confidential business information with Mr. Renoy and finmark Capital. This is a serious breach and caused significant damage to the business and customers.
When a Mr. Renoy and his team left DIB, they already took with them the data they had worked with during their stay in the company, and this is true as it calls out a few other customers andforces them to sell the existing investment with DIB to Re-invested with FINMARK Capital under Mr. Renoy and his teamsupervision.
Mr. Varghese Chacko is currently an employee of DIB, sends all customer contact data, Customer emails, details of theirorganization, positions, phone numbers etc to Mr. Renoy and Finmark Capital.
I am sure DIB will take the initiative and will file lawsuit against Mr. Varghese Chacko and Mr. Renoy under the Data privacy policy.
Otherwise, DIB should come as no surprise, so see FINMARK Capital’s success by supporting them with privacy breach.