Maybank staff at Toa Payoh foil potential scam by stopping customer from withdrawing $51,000 cash

The bank advises customers to be extra vigilant against financial scams.

Ruth Chai | May 22, 2023, 10:55 AM

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A Maybank staff saved a customer from losing S$51,000 due to her quick-thinking.

On around noon time on May 6, the customer approached a Maybank outlet at HDB Hub and attempted to withdraw S$51,000 in cash.

The suspicious nature of this request alerted the staff, who suspected that the man was a victim of a scam.

After speaking to the man and contacting the police, the man was eventually convinced not to withdraw the money, thus foiling what turned out to be an investment scam.

Customer wanted to draw hefty sum in cash

Responding to Mothership's queries, a Maybank spokesperson said that the customer in question wanted to withdraw the amount in cash, which raised some flags to the bank staff that was serving him, Michelle Wee.

Wee probed the customer on the purpose of withdrawal and found out that he intended to withdraw the funds to pay taxes in order to claim a six-figure investment gain.

She then escalated the case to senior branch staff May Loh, who spoke to the customer in private.

It was discovered that the customer had paid a potential scammer prior to his visit to Maybank.

Loh then tried convincing the customer against withdrawing the amount, and sought further assistance from the Maybank's Digital Banking Fraud Team.

The police was also contacted, and they managed to convince the customer not to perform the withdrawal.

Importance of remaining vigilant

Speaking to Mothership, Maybank said:

"Such training enabled our staff to spot the red flags when the customer informed her that he intended to use the withdrawal to pay an upfront tax to claim a six-figure investment gain. In addition, the customer’s unusual request for the fund withdrawal to be in cash, added to her suspicions."

Top photo via Maybank and Google Maps