SINGAPORE – A man relinquished control of his company's bank account to an unknown person in late 2021. The account was then used to receive, as well as transfer out, the proceeds of online scams totalling $53,801.. Court documents did not state if the remaining amount came from the same ruse.
Between Dec 8, 2021, and Jan 19, 2022, the police received 768 reports from OCBC account holders who had fallen prey to phishing scams perpetrated by unknown scammers. Teo was the sole proprietor of a company called Royal Beaute. He relinquished control of its bank account to an unknown person some time between November and December 2021.
"The complainant was prompted to key his online Internet banking credentials and one-time PINs. Unknown to the complainant, his information was used to access his OCBC bank accounts without his authority to perform two transfers of a total of $98,860 to another OCBC bank account on the same day." In an unrelated incident, Teo lodged an online police report on Jan 8, 2021, and lied by claiming that several of his accounts on platforms, including online marketplace Carousell, had been compromised.
Source: News Formal (newsformal.com)
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