The Benevolent Deceptive Officer (Part 1)

Image/Source courtesy of www.business.inquirer.net

Another Rogue Banker

Biz Buzz recently got hold of confidential information involving a seemingly rogue banker (working for a large local financial institution) who has successfully separated over P20 million from at least two victims.

Word on the street now is that the scammer may have been able to victimize others and make off with as much as P100 million. And here’s the thing: apart from being a ranking bank official, the scammer is also a “she.”

How is this scam perpetrated? This rogue banker, along with a number of suspected coconspirators, has apparently been engaging in illegal banking practices by enticing victims to park their funds in so-called Special Peso Time Deposit accounts.

But instead of putting the victims’ funds in the offered investment facility (which doesn’t exist), this scammer deposits the money in her own personal bank account.

As soon as the victims started looking for their money, this rogue female banker flew the coop, and Biz Buzz heard she recently took a commercial flight to Tokyo, Japan, after which the trail went cold. Her whereabouts are currently unknown.

Incidentally, the funds—originally deposited in one bank—were found to have been transferred to another financial institution within hours, and were soon after withdrawn.

In addition to going after the rogue banker who is now nowhere to be found, the victims are considering filing charges under the Anti-Money Laundering Act against the banking institutions involved. Watch this space, folks.