When scammers can empty your bank accounts of S$8.5m in minutes, where is the sense of security?

MY first full-time employment was with a bank. On my first day at work, the trainer repeatedly emphasised the importance of integrity. I can still recall his words from 34 years ago: "It's very easy to steal from a bank. But impossible to get away with it."

Now the reason why there aren't more theft cases in a bank than the average organisation is not that banks are able to hire only upright citizens. It is that their numerous internal checks and balances ensure that the theft will not go unnoticed and the thief will be caught. Never mind integrity, jail time is a major deterrent to any would-be criminal.

These safeguards extend to customers transacting at branches too. As a customer, not only do you need to be present physically but you also need to produce your identification card, bank book and a matching signature signed in front of the teller to withdraw money.