Following an interview with the bank’s relationship manager on the purpose of the transactions, the victim was still not convinced that it was a scam.
“Based on the red flags, the case was subsequently referred to the Anti-Scam Centre where officers swiftly engaged the victim and successfully convinced the victim about the scam,” said the police.
“The timely intervention by ASC and SCB officers had prevented the victim from potential losses amounting to approximately S$1.5 million.”
In a separate incident, police said last December that a 79-year-old woman avoided losing more than S$260,000 to an impersonation scam, after a Standard Chartered Bank relationship manager noticed unusual banking behaviour and escalated the matter.
The police urged the public to remain vigilant against investment scams, where victims would be approached through social media platforms, communications and dating applications, such as Facebook, Instagram, Telegram, WhatsApp, Coffee Meets Bagel, and Tan Tan.
Such scammers would introduce “investment opportunities” such as cryptocurrencies, forex or stocks and shares, and would direct the victims to deposit monies into these “lucrative investment opportunities”, said the police.
“Upon payment, the victims would then realise that they could not withdraw their monies.”