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SINGAPORE: Recent incidents involving dementia patients and their bank accounts have led to calls for banks to re-look procedures and offer better safeguards.
This is especially since the number of dementia cases in Singapore is expected to rise. The Ministry of Health (MOH) estimates that about 53,000 people in Singapore will be living with dementia by 2020, up from 22,000 in 2005.
One recent incident involved housewife Poh Guat Cheng.
Madam Poh, 54, looks after her 89-year-old mother, who suffers from dementia. Medical expenses for her mother have been mounting, totalling some S$3,000 a month.
Madam Poh was hoping for some relief from the S$48,000 fixed deposit she had in a joint POSB account with her mother. But that's when she got a rude shock.
Madam Poh said: "Very sick, sick to the pit of my stomach, when the bank told me that the money is gone. I was really stunned."
She said she was not informed that the account had been closed, adding: "I don't have time to go and monitor the account, especially an account that I deemed as safe."
The money is now in a new joint account set up by her mother and another family member.
Madam Poh said: "She (the mother) suffers from cognitive impairment, which means she cannot make decisions. How can she open a new account?
"The bank still stands by the fact that she came with her IC (identity card), she came with the thumbprint, so it is perfectly 'ok' to release the money.
"My mum is about 86-87 (years old). At that age that time, don't you think you (the bank) should exercise a little bit more care when she comes in and closes the account.....should you not just pick up the phone and call me?
"You are talking about an old lady who is mentally incapacitated. So, what kind of protection do you offer her?
"The bank (keep) telling you, 'there is nothing they can do about this thing', everything is so-called legally and above board, it complied with their regulations....."
The bank was unable to comment, citing customer confidentiality.
But a spokesperson said "bank staff cannot pass credible judgement on the psychological or mental well-being of any customer".
The bank also cannot unilaterally invoke any sanctions even if the customer is mentally incapacitated, added the spokesperson.
The spokesperson also said that when a bank staff member notices something amiss about a customer's mental awareness, the employee will not proceed with the customer's request.
The employee will also advise the customer to consult the other account holder or a family member.
However the bank respects the right of an account holder to operate the account and "will not contact the other account holder independently".
Some observers say banks should ask simple questions to ascertain a customer's mental state.
Others suggest making it compulsory for both joint account holders to authorise a transaction if one account holder is above a certain age.
The Office of the Public Guardian, which comes under the Community Development, Youth and Sports Ministry, advises Singaporeans to appoint someone they trust to be their "proxy decision maker" if they lose their mental capacity.
In May, the High Court ruled in favour of OCBC Bank to freeze a S$8.9 million account on the grounds that the account holder was not mentally competent when she wanted to close her account.
- CNA/ir
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