OCBC have implemented a security feature on OCBC Digital app to scan your phones for unofficial apps

[Voodooman]

On 8/7/2023 at 10:40 AM, Jtis said:

Actually, many ppl may not agree with me but i thought this move from ocbc is a positive one. To protect the users of their digital products, especially those older folks who might not be so digitally savvy but forced to start using digital transactions for some stuff. Moving to digital transactions seems to be an inevitable industry trend, a matter of time, so the less digitally savvy folks may need some more protection.

 

What ocbc has probably err-ed on, is their failure to recognise the need to provide the illusion of choice. I.e. just go ahead and highlight unsafe apps, but allow transactions to continue if the user acknowledges the risks of doing so and accepts full responsibility if any financial loss occurs as a result of using these unsafe apps on the same device as their banking app.

 

Fair lah, just like it is your responsibility if you insist on writing your ATM pin on the back of your ATM card, and leaving it around unattended. Well, you can go ahead to do so, but you can't blame the bank if money gets taken from your acct if the atm card goes missing one day 

I am an iphone user, so I support ocbc move.

People wants choice but when their phone is hacked and they lose money, they want ocbc to pay up.  

With digital banking becomes a part of our lives and the number of online scams going around, I am happy to have an expert who probably took a lot of losses already looking out for me.

[Rayleigh]

On 8/7/2023 at 10:21 PM, Voodooman said:

I am an iphone user, so I support ocbc move.

People wants choice but when their phone is hacked and they lose money, they want ocbc to pay up.  

With digital banking becomes a part of our lives and the number of online scams going around, I am happy to have an expert who probably took a lot of losses already looking out for me.

I too support this initiative. It it getting too many of malicious apps laterly. 

[bsswan]

On 8/7/2023 at 10:21 PM, Voodooman said:

I am an iphone user, so I support ocbc move.

People wants choice but when their phone is hacked and they lose money, they want ocbc to pay up.  

With digital banking becomes a part of our lives and the number of online scams going around, I am happy to have an expert who probably took a lot of losses already looking out for me.

"Expert"....... Sometimes you crack me up 😏

[Benarsenal]

On 8/7/2023 at 10:40 AM, Jtis said:

Actually, many ppl may not agree with me but i thought this move from ocbc is a positive one. To protect the users of their digital products, especially those older folks who might not be so digitally savvy but forced to start using digital transactions for some stuff. Moving to digital transactions seems to be an inevitable industry trend, a matter of time, so the less digitally savvy folks may need some more protection.

 

What ocbc has probably err-ed on, is their failure to recognise the need to provide the illusion of choice. I.e. just go ahead and highlight unsafe apps, but allow transactions to continue if the user acknowledges the risks of doing so and accepts full responsibility if any financial loss occurs as a result of using these unsafe apps on the same device as their banking app.

 

Fair lah, just like it is your responsibility if you insist on writing your ATM pin on the back of your ATM card, and leaving it around unattended. Well, you can go ahead to do so, but you can't blame the bank if money gets taken from your acct if the atm card goes missing one day 

Cannot lah. Scam is very bad for bank image

[Benarsenal]

On 8/7/2023 at 3:07 PM, Jellandross said:

Apple knows that idiots will do idiotic things when given half a chance. So they designed iOS to ensure their customers have zero choice to become an idiot.

Google also have the same understanding. But they believe ppl will choose to be smart when given adequate warning so they designed Android to have more choices - side-loading apps is disabled by default but user can manually enable it after warning.

But as history has proven, ppl give credit to their own intelligence when nothing happens but blame the technology when shxt hits the fan.

Seems like OCBC is taking the Apple approach to minimise their own liability.

Most people are not tech savvy. Or at the very least, can't be bothered to take precautions. Convenience comes first.

Edited August 7, 2023 by Benarsenal

[Voodooman]

On 8/7/2023 at 11:39 PM, bsswan said:

"Expert"....... Sometimes you crack me up 😏

Haha... Relative to me.  I am quite an IT idiot. 

Too many malicious stuff out there that I can't understand. Google sim card swap fraud and phone hijacking, it is scary reading how people lost their savings in hours without knowing how. 

[Jellandross]

On 8/7/2023 at 6:49 PM, Kxbc said:

my Google Accessibility Suite app was flagged out. This app is available from the Google play store. I've never installed any app via apk before. It was already in the phone when I took it off the telco.

That's interesting so they took the blacklisting approach. Ocbc used to be the technology laggard among the big local banks. I wonder if they've beefed up their tech talents since the big scam scandal.

Really takes significant in-house resources and expertise to test and black list what they deemed as risky apps in the vast Android marketplace. Or maybe they outsourced to external Infosec vendor.

[Kopites]

I am all for such safety measure. 

-------------------

https://www.straitstimes.com/singapore/new-security-feature-on-ocbc-banking-app-draws-mixed-reactions

1) MAS approved. More bank will follows suit.

When contacted, the Monetary Authority of Singapore (MAS) said it “strongly supports banks’ initiatives to bolster the security of digital banking”, and that it has been working closely with banks to “introduce measures to address the risks associated with malware-related scams, which an increasing number of customers have fallen prey to”.

2) one melware case per day! Can happen to anyone.

Mr Chua also said OCBC has not received reports of malware scams from customers who updated their app with the new security feature.

“Before last Saturday, we usually received at least one malware scam report from our customers a day,” he added.

[Jellandross]

On 8/8/2023 at 10:48 PM, Kopites said:

I am all for such safety measure. 

-------------------

https://www.straitstimes.com/singapore/new-security-feature-on-ocbc-banking-app-draws-mixed-reactions

1) MAS approved. More bank will follows suit.

When contacted, the Monetary Authority of Singapore (MAS) said it “strongly supports banks’ initiatives to bolster the security of digital banking”, and that it has been working closely with banks to “introduce measures to address the risks associated with malware-related scams, which an increasing number of customers have fallen prey to”.

2) one melware case per day! Can happen to anyone.

Mr Chua also said OCBC has not received reports of malware scams from customers who updated their app with the new security feature.

“Before last Saturday, we usually received at least one malware scam report from our customers a day,” he added.

Ocbc really wasted never hire talent like Nicholas as their Head of Cybersecurity. He is so much smarter than those stupid security experts in the bank.

When financial consultant Nicholas Yee, 46, tried signing in to the OCBC banking app on his Samsung Android phone on Monday, he received an alert about apps he downloaded from unofficial stores.

Mr Yee, who carries a Samsung Z Fold 5 and uses China-centric apps largely for business, said: “OCBC has no right to decide for us what apps we use in our daily life. Why do they think only apps downloaded from Google Play Store are legitimate and not malware?”

He added that there is anti-virus software installed on his phone to alert him about malware, and the software did not raise any alarms about the apps flagged as risks by OCBC.

Edited August 8, 2023 by Jellandross

[mersaylee]

On 8/9/2023 at 2:30 AM, Jellandross said:

Ocbc really wasted never hire talent like Nicholas as their Head of Cybersecurity. He is so much smarter than those stupid security experts in the bank.

When financial consultant Nicholas Yee, 46, tried signing in to the OCBC banking app on his Samsung Android phone on Monday, he received an alert about apps he downloaded from unofficial stores.

Mr Yee, who carries a Samsung Z Fold 5 and uses China-centric apps largely for business, said: “OCBC has no right to decide for us what apps we use in our daily life. Why do they think only apps downloaded from Google Play Store are legitimate and not malware?”

He added that there is anti-virus software installed on his phone to alert him about malware, and the software did not raise any alarms about the apps flagged as risks by OCBC.

Got say which pasar malam stall he installed the anti virus software from? 😁

[Kopites]

On 8/9/2023 at 2:30 AM, Jellandross said:

Ocbc really wasted never hire talent like Nicholas as their Head of Cybersecurity. He is so much smarter than those stupid security experts in the bank.

When financial consultant Nicholas Yee, 46, tried signing in to the OCBC banking app on his Samsung Android phone on Monday, he received an alert about apps he downloaded from unofficial stores.

Mr Yee, who carries a Samsung Z Fold 5 and uses China-centric apps largely for business, said: “OCBC has no right to decide for us what apps we use in our daily life. Why do they think only apps downloaded from Google Play Store are legitimate and not malware?”

He added that there is anti-virus software installed on his phone to alert him about malware, and the software did not raise any alarms about the apps flagged as risks by OCBC.

China -centric apps? He probably one of those seller dealing with online shopping platform 

[Kopites]

On 8/9/2023 at 7:01 AM, mersaylee said:

Got say which pasar malam stall he installed the anti virus software from? 😁

I have seen anti glare, anti slip selling at night market. Dont recall seeing any anti virus software though.  

Edited August 8, 2023 by Kopites

[Rm2s]

On 8/8/2023 at 10:48 PM, Kopites said:

I am all for such safety measure. 

-------------------

https://www.straitstimes.com/singapore/new-security-feature-on-ocbc-banking-app-draws-mixed-reactions

1) MAS approved. More bank will follows suit.

When contacted, the Monetary Authority of Singapore (MAS) said it “strongly supports banks’ initiatives to bolster the security of digital banking”, and that it has been working closely with banks to “introduce measures to address the risks associated with malware-related scams, which an increasing number of customers have fallen prey to”.

2) one melware case per day! Can happen to anyone.

Mr Chua also said OCBC has not received reports of malware scams from customers who updated their app with the new security feature.

“Before last Saturday, we usually received at least one malware scam report from our customers a day,” he added.

I am looking forward to Singpass also introduce the same checks.

[Kopites]

On 8/9/2023 at 8:31 AM, Rm2s said:

I am looking forward to Singpass also introduce the same checks.

Lately sunglass did implemented the facial recognition authentication for logging in. 

[bsswan]

On 8/9/2023 at 8:31 AM, Rm2s said:

I am looking forward to Singpass also introduce the same checks.

SingPass already doesn't work on phones with unlocked bootloader.

[Kb27]

Well, I'm not sure if OCBC app broke some Google rules scanning against other apps.

We'll see what happens next.

[Kopites]

On 8/9/2023 at 12:53 PM, Kb27 said:

Well, I'm not sure if OCBC app broke some Google rules scanning against other apps.

We'll see what happens next.

Rules or not rule I am sure many of victims already fuming at OCBC for not putting forth such measures earlier. 

Easy for us to comment on the ethical aspect because we aren't the victim as of now. 

I am looking forward to the rest of financial institutions to implement such safety mechanism.

My views. 

[Lala81]

if you want to be treated like a child, just get an apple phone lor.

I've nothing against people being treated like children. But i won't accept an app scanning my phone for side-loading APK.
 

Stopped using OCBC for years. 

Edited August 10, 2023 by Lala81