With the cooperation of the Singapore Police Maybank Between March 2023 and June 2024, it intervened in 19 fraud cases, preventing losses of S$1,215,600.
One notable case occurred at Maybank’s Choa Chu Kang branch on July 2, when a 75-year-old retiree attempted to prematurely withdraw S$230,000 from his fixed term deposit.
Assistant service manager Li Yong Jie noticed inconsistencies in the retirees’ reasons for withdrawals and reported the matter to Maybank’s digital banking fraud team.
The client claimed he needed the funds to help his son buy an HDB flat but was unable to provide any documentation to support this.
Despite repeated questioning, the leaver’s stories remained contradictory and, following advice from the fraud team, withdrawals were put on hold until the appropriate documentation or police report was filed.
Later that evening, the retiree contacted Maybank, admitted he had been defrauded and was advised to file a police report.
He then returned to the bank, thanked the bank staff for their attentiveness and revealed that he had already fallen victim to the same scam at another bank, resulting in a huge loss.
Maybank continues to urge its customers to remain vigilant and provides resources for them. Website To prevent fraud.
About the Author
More information about the author
