If there is no high risk alert message relating to my recipient, does it guarantee it is safe to transfer to him/her?
You are reminded to verify carefully the transferee's details (i.e. account number/mobile number/email/FPS ID etc.) and transfer amount before confirming a fund transfer instruction.In case of any transfer to a wrong account by mistake, contact the transferor's bank for assistance as soon as possible. However, the transferee's bank may only return the fund back to the transferor's bank upon getting the transferee's consent. If the transferee's bank cannot get in touch with transferee, transferee is not cooperative or refuses to return the fund, the transferor should consider reporting to the Police; and/ or to seek independent legal advice on possible actions. Besides, anyone who discovers a deposit to his bank account from an unknown source and does not return the fund, he may be criminally liable.
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