Fintech
WorldFirst, the London-based fintech owned by billionaire Jack Ma, faces harassment court
(AFP via Getty Images)
An employee at WorldFirst, owned by billionaire Jack Ma, is taking him to an industrial tribunal over allegations of harassment and discrimination after the London-based fintech was contacted by the information regulator over problems with data practices, can reveal the Standard.
The HR manager, who has a physical disability, claims the company was negligent in its duty of care to her after details about her condition were inappropriately shared with other employees and third parties.
The six-figure legal claim marks the latest challenge facing Ma’s Ant Group, which acquired WorldFirst in 2019 in a deal believed to be worth more than $700m (£550m).
In July last year, Ant Group has been fined around £800m by China’s financial regulator after being accused of violating rules on corporate governance, financial consumer protection, payments and settlement activities, as well as anti-money laundering obligations.
Since the Ant acquisition, WorldFirst, which turns over more than £100 million a year, has seen the exit of a number of senior UK executives including the CEO, CFO, Managing Director, Chief Risk Officer, Chief Information Security Officer, Group General Counsel and Chief Compliance Officer. Ant Financial staff were among those brought in to replace them.
The new legal complaint alleges that a senior manager at WorldFirst based in Singapore requested that an employee continue working while she was on leave to receive medical treatment, prompting a letter to the company from her doctor warning that the company “apparently does not had been complying with her legal right to sick leave… contacting her frequently during this period [which] it caused his stress and mental health to deteriorate.”
Separately, staff from the Ant Group-owned company’s legal team admitted to monitoring her personal social media channels in an apparent attempt to track her activity and whereabouts while she was away from the office. After reporting the incident, WorldFirst told her: “Scrutiny of publicly available data, for legitimate reasons during an investigation process, does not amount to harassing and intimidating behavior.”
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The employee also complained to the Information Commissioner’s Office about the company’s processing of her personal data.
In a letter seen by the Evening Standard, the ICO said: “In our opinion, World First Ltd has breached its data protection obligations.
“This is because a staff member has inappropriately disclosed personal information about you to other employees. This information was then further shared with other third parties, without your knowledge or consent.
“Organisations must ensure they have adequate security measures in place to protect the data they hold… breaches of personal information can adversely affect the rights and freedoms of individuals.”
The ICO said it had written to WorldFirst about its information rights practices. The employee told the Standard: “The behavior of some employees towards me during this difficult period has been severely distressing.
“I believe I have a duty to make anyone considering joining this company aware of the challenges I have faced and the treatment I have received from Ant Group and WorldFirst. I hope to give victims of discrimination the opportunity to assert their rights.”
The court hearing date has yet to be set. WorldFirst declined to comment.
Fintech started last year move its Asia operations away from UK oversight in a major renovation. WorldFirst Asia, a business unit that accounted for about two-thirds of the company’s revenue and 70% of its profits, was transferred to an Asian subsidiary of billionaire Ma’s Ant Group. WorldFirst said it made the decision in January last year based on “strategic alignment of legal entities”.
WorldFirst’s accounts for 2022, before the offloading of WorldFirst Asia, show the fintech’s turnover almost doubled to £103.6 million, while pre-tax profits rose to £25 million, compared to the loss of £6.4m the previous year.