OCBC SMS scam: Customers face uphill battle to find legal recourse against bank | THE BIG STORY

Описание: OCBC Bank will be conducting a thorough probe to identify the deficiencies in its processes and implement the necessary measures to address them after a spate of SMS phishing scams, said the Monetary Authority of Singapore (MAS) on Monday (Jan 17).

Following the review, MAS, the country's financial sector regulator, will consider the appropriate supervisory actions.

Nearly 470 customers lost at least $8.5 million to fraudulent fund transfers in December last year after scammers posed as OCBC and sent SMSes with links to phishing sites to victims.

Bryan Tan, who is the cyber response lead for law firm Pinsent Masons Singapore, weighs in on the legal recourse for affected customers to completely recover their lost funds. Read more: https://str.sg/wQz4

Watch the full episode of The Big Story:    • Changi Airport Terminal 2 closure extended...  


#thebigstory #ocbc #scams #phishing


SUBSCRIBE ➤ http://bit.ly/FollowST
--------------------
WEBSITE ➤ http://www.straitstimes.com
TELEGRAM ➤ https://t.me/TheStraitsTimes
FACEBOOK ➤   / thestraitstimes  
TIKTOK ➤   / straitstimes  
INSTAGRAM ➤   / straits_times  
TWITTER ➤   / straits_times  
PODCASTS ➤ http://str.sg/stpodcasts

The Straits Times, the English flagship daily of SPH Media, has been serving readers for more than a century. Launched on July 15, 1845, its comprehensive coverage of world news, East Asian news, Southeast Asian news, home news, sports news, financial news and lifestyle updates makes The Straits Times the most-read newspaper in Singapore.