KUALA LUMPUR: A bank officer has been detained on Monday for allegedly siphoning RM715,000 of customers' money for football betting, a Malay daily reported.

The report, by Kosmo, said that the assistant branch manager had used the hefty sum to wager on Manchester City in a football betting on April 5.

The 46-year-old man was arrested by the police at a bank branch in Jalan Raja Laut.

The police team was led by Inspector T. Selvakumar from the Dang Wangi district police headquarters.

Kosmo reported that the arrest came as a shock to the bank staff as the suspect was a high-ranking officer.

It stated that this was the first time the suspect, a father of three, had misappropriated the bank customers' money.

The suspect claimed he had 'borrowed' the money to fulfill his dream of becoming rich and intended to repay the money once he won the bet.

It was learnt that the bank’s internal audit had detected the large transfer amount and alerted the authorities.