Rise of Insurance Scams: Woman, 70, Who Wanted to Withdraw $40k for ‘Son’s Renovation’ Saved by Bank

Rise of insurance scams: Woman, 70, who wanted to withdraw $40k for ‘son’s renovation’ saved by bank

In the first six months of 2025, more than $21 million was lost to insurance services scams in Singapore. Read more at straitstimes.com.

Rise of insurance scams: Woman, 70, who wanted to withdraw $40k for 'son's renovation' saved by bank

SINGAPORE - Just as the bank was about to close for the day, a woman in her 70s rushed in, frantically asking for help to withdraw $40,000 in cash from her savings account.Seeing this was almost all of her life savings, Ms Karen Teo, a bank officer at DBS' South Bridge Road branch, asked the woman what it was for.On...

DBS staff save woman, 70, who wanted to withdraw $40k for 'son's renovation'

Just as the bank was about to close for the day, a woman in her 70s rushed in, frantically asking for help to withdraw $40,000 in cash from her savings account....