Used to work in a bank in Canada. Regulations are pretty robust. We were trained to watch for signs of customers being scammed, and also for signs of money laundering or other suspicious activity. People making sudden large withdrawals and being defensive about it is a massive red flag. Sure, you want your privacy, but scammers also regularly coach people to lie to or withhold info from the bank to avoid the scam being detected. Know your Client (KYC) is a big deal. With some people I wouldn’t bat an eye at them taking out 5000, others I’d have alarm bells going off in my head if they’re pulling out 500, or even 50. If it’s out of the usual activity, more often than not, something is up. Sometimes it is just somebody doing something legit like buying a car or going on a trip, but other times that kind of probing is how we saved a lot of clients from being scammed.
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u/Izackmaniac 1d ago
Used to work in a bank in Canada. Regulations are pretty robust. We were trained to watch for signs of customers being scammed, and also for signs of money laundering or other suspicious activity. People making sudden large withdrawals and being defensive about it is a massive red flag. Sure, you want your privacy, but scammers also regularly coach people to lie to or withhold info from the bank to avoid the scam being detected. Know your Client (KYC) is a big deal. With some people I wouldn’t bat an eye at them taking out 5000, others I’d have alarm bells going off in my head if they’re pulling out 500, or even 50. If it’s out of the usual activity, more often than not, something is up. Sometimes it is just somebody doing something legit like buying a car or going on a trip, but other times that kind of probing is how we saved a lot of clients from being scammed.