Hold Transactions

DO NOT OBEY SCAMMER INSTRUCTIONS TO RELEASE ON HOLD TRANSACTION!

Transaction cooling-off is a precautionary measure designed to minimize the risk of unauthorised transactions and potential fraudulent activities, ensuring your funds are safe.

However, scammers are now instructing scam victims on how to provide a fake reason that sound genuine to the Bank in order to release the on hold transaction to the scammers.

How it works

• The victim has already authorised a transaction to an unknown scammer account but the bank's security system placed the transaction on hold.
• In order to release the transaction, the scammer will instruct the victim to provide a fake reason to the Bank such as urgent renovation, medication, family support, buying goods and etc.
• The Bank will then process the customer's on hold transaction as the reason given by customer sounds genuine.
• Unfortunately, the customer will only realize that they have been scammed after experiencing financial lost.

What to do?

• Stay vigilant and DO NOT follow any instructions for any discrepancies.
• Do not agree on performing transactions to anyone without any legitimate reason.
• Always verify the details when transferring t a new recipient account.