In a cautionary tale, a woman in her 30s fell victim to a scam despite warnings from OCBC Bank staff. According to Mr. Peck Chun Hua, an investigator with OCBC’s anti-scam unit, the woman with S$130,000 in two OCBC accounts initially wanted to transfer S$20,000 to an international bank account. The bank staff grew suspicious as it was her first transfer to that account and called her to confirm the transfer. Despite their efforts to dissuade her, the woman insisted it was a loan to a friend.
The situation escalated when the woman attempted five transfers to two different accounts, all directed to an email address without any specific name or purpose. OCBC staff promptly contacted the authorities, leading to the discovery of the payee as a suspicious account and the subsequent halting of the transfer.
Despite these interventions, the woman persisted in her attempts to transfer money. In one instance, she transferred about S$30,000 to an international bank account in her name, leading to the suspension of her account. Even after the bank’s efforts to prevent further transfers, the woman signed an indemnity form which ultimately allowed the transaction to proceed.
In June, the victim realized she had been scammed after making a total of 27 transfers from her OCBC accounts and others, resulting in a loss of S$330,000. Left with only S$600 in her accounts, the woman expressed regret over the situation, acknowledging the efforts made by the bank and authorities to help her.
Despite such cases, the Protection from Scams Bill, presented in Parliament on 11 Nov, aims to empower the police to issue restriction orders to banks to prevent similar incidents. If approved, these orders will enable banks to restrict certain banking transactions for individuals, potentially protecting stubborn victims who refuse to believe they are being scammed, despite the best efforts by bank and police officers.
