Check abuse of inactive bank accounts

It is disturbing that a bank teller was able to misappropriate $300,000 from inactive accounts easily and was found out only by chance ("Bank teller who swiped over $300,000 jailed"; yesterday).

The authorities should do more to protect the hard-earned savings of depositors, especially the elderly, as they are usually the ones who rarely use their accounts.

What if victims of such crimes were to die before the discovery of the theft? The families and the bank would not even know about the misappropriation.

The laws must be strong enough to discourage such crimes, and banks have to play their part in having a robust system which can detect such irregularities and act accordingly.

Kang Choon Tian

A version of this article appeared in the print edition of The Straits Times on July 16, 2016, with the headline 'Check abuse of inactive bank accounts'. Print Edition | Subscribe