We understand and share the anxiety of our customers who have fallen prey to this recent SMS phishing scam which impersonated OCBC and preyed on the fears of consumers about their personal bank accounts.We have set up a dedicated team to help our affected customers through this difficult period. We have also contacted all the affected customers and are rendering assistance to them.
While most customers use the digital soft token, based on customers’ feedback, the hard token continues to be available.Our first-level investigation into this particular SMS phishing scam has revealed that victims who had fallen prey had unknowingly provided their bank account information and internet banking login credentials, including SMS OTPs, to fake websites.
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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...
Source: asiaonecom - 🏆 10. / 59 Read more »
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
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
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....
Source: thenewpaper - 🏆 7. / 63 Read more »
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?
Source: asiaonecom - 🏆 10. / 59 Read more »
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.
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