OCBC Scare: Bank Approved Fraudulent Use of My Mom’s Address Without Verification!

Posted on May 8 2015 - 11:34am by Dear Redwire

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I recently found out that an unknown individual had used my elderly mother’s home address in his ATM card application with OCBC Bank.

I called OCBC to raise this matter.

I asked the bank officer about the bank’s verification processes, and he suggested that perhaps the person used to live at that address.

This was not possible as my mother has lived there for decades.

The bank officer offered a second explanation: That the application was made overseas or online, and hence could not be verified.

I pointed out that it was beside the point where the application had come from.

The point was that an unknown person had made an application using my mother’s home address and the bank had approved it without verification.

Surely, there is a requirement to show proof of address in the form of photo identification or utility bills?

It is the bank’s responsibility to take precautions and ensure a person’s identity is fully verified before approving applications.

This time, it is just an ATM card application. What if the next time involves loans or credit cards?

This incident is potentially risky for my mother.

Who will take responsibility if that individual defaults?

Also, the premeditated unlawful, fraudulent and deceitful action suggests criminal involvement.

 

 

This letter was written by Yow Chung Wah.
Send us your letters at mail@redwiretimes.com

 

 

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