UOB Branches Train Staff to Spot Signs of Familial Financial Abuse — A Growing Issue

Bank staff at UOB branches are being taught to spot signs of familial financial abuse, especially of older customers, so they can provide support to potential victims.

- Samuel Devaraj

UOB said on July 31 this was an industry-first initiative aimed at addressing the growing issue of familial financial abuse, while also recognising the challenges of identifying such cases.

It said the training programme "will equip staff with a better understanding of the nuances of this issue and (to) handle potential cases with more empathy, understanding and finesse when required".

The seven-hour training programme involves theory lessons and role-play to simulate real-life scenarios faced at branches such as suspicious transactions, irregular joint account requests and third-party interference.

The staff are tested on what they have learnt.

Speaking to the media on July 31 on the sidelines of a training session at NTUC Trade Union House, Mr Benny Chan, managing director of UOB's group channels and digitalisation, said that such a case, for instance, could involve a family member taking advantage of the fact that he or she is trusted to siphon money against the customer's wishes or without the customer knowing.

He said, in the last six months, the bank's branches have flagged twice as many such requests or transactions as in the same time period in 2024.