Bank officer arrested for allegedly stealing S$500,000

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Police have arrested a 48-year-old woman for alleged criminal breach of trust involving S$500,000 in cash.

In a statement, police said they arrested the suspect -- a bank officer -- at about 5am on Saturday.

They recovered S$1,000 in cash and over S$4,900 in gambling chips, and are working to recover the rest of the monies.

They were acting on a report lodged by the manager of a bank in Serangoon Gardens, stating that S$500,000 had been stolen from the bank. The report was lodged at about 11pm on Friday, May 17.

Investigations followed, and it was established that a 48-year-old branch officer might have siphoned off the cash during bank closing hours on May 16.

Police said the suspect will be charged in court on Monday for criminal breach of trust, which carries a jail term of up 15 years and may also include a fine.