Hoi Wei Kit selected victims who were not technologically savvy and relied on his explanations when they were signing up for financial products, instead of scrutinising the necessary documents.
In a move to obtain money to settle his gambling-related debts, a financial consultant with OCBC Bank hatched a plan to dupe five of its clients of $170,000 in total. Read more at stomp.straitstimes.com
Jan 17, 2022The court heard that Hoi would contact targeted clients to inform them they were eligible to sign up for a promotional time deposit account with an attractive interest rate of either 8.88 per cent or 11.88 per cent.On Monday (Jan 17), the 34-year-old Singaporean pleaded guilty to seven charges, including five counts of cheating involving $130,000.
Deputy Public Prosecutor Dhiraj G. Chainani said Hoi had a gambling habit and was in debt by October 2017. He then decided to cheat the victims and use his ill-gotten gains to pay off his debts.As Hoi had no intention of creating a time deposit account for the victims, he let them sign only the form authorising the debit of funds from their bank accounts.Read more: Stomp Singapore »
Ex-OCBC financial consultant admits to cheating 5 people of $170,000In a move to obtain money to ease his gambling-related debts, a financial consultant with OCBC Bank hatched a plan to dupe five of its clients of $170,000 in total. Hoi Wei Kit selected victims who were not technologically savvy and relied on his explanations when they were... Ocbc....
Former OCBC financial consultant admits to cheating clients of S$170,000 in fake time depositsSINGAPORE: A former financial consultant with OCBC Singapore cheated five of his clients of S$170,000 in fake time deposits, picking existing clients whom he knew were not technologically savvy and who would trust his explanations. Hoi Wei Kit, 34, pleaded guilty on Monday (Jan 17) to seven charges of chea
2 OCBC SMS scam victims share losing life savings within minutesSINGAPORE - OCBC Bank customers who were scammed have felt great pain, with some losing life savings that they had built up for their children and families painstakingly over the years. OCBC said its banking systems have not been hacked and remain secure. It also reversed its plan to phase out physical tokens for e-banking. In a letter to The...
OCBC compensates more than 30 SMS scam victimsSINGAPORE - OCBC Bank said on Monday (Jan 17) that it has already been making goodwill payments to customers who lost funds from their bank accounts in a recent spate of SMS phishing scams. The bank said it has been doing so since Jan 8 and more than 30 customers have received them so far. 'The payouts to this group... Who are the “beneficiaries”? Let them get away scot-free? ZERO explanation from Head of Digital Business and Transformation? What about SGFinDEx? Conveniently expose depositors to all sort of risk and never said a word?
MAS considers action against OCBC for phishing scamSINGAPORE — Singapore's central bank said on Monday (Jan 17) it will consider supervisory action against the country's second-biggest lender Oversea-Chinese Banking Corp (OCBC), after hundreds of its customers were hit by a phishing scam last month.
Monetary Authority of S'pore considering taking supervisory actions against OCBCMAS said it expects all affected customers to be treated fairly. y’all copied and pasted from the DBS incident and couldn’t even edit it 😭😭😭 tiz 1 sured muz take action$..if a bank kannok safeguard our heartearned to$h..mite as well kept under d pillow/bloster Yes please what are they waiting for?durians to fall ah is it