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Let's start with this https://www.straitstimes.com/singapore/courts-crime/ocbc-bank-customer-lost-120k-in-fake-text-message-scam-another-had-250k-stolen Young couple lost $120k in fake text message scam targeting OCBC Bank customers SINGAPORE - It took a man and his wife five years to save about $120,000, but in just 30 minutes, scammers using a fake text message stole the money they had kept in their OCBC Bank joint savings account. The couple in their 20s were among at least 469 people who reportedly fell victim to phishing scams involving OCBC in the last two weeks of December last year. The victims lost around $8.5 million in total. The husband works in the e-commerce sector, while his wife is in the hospitality industry. The man said he received the phishing message with a link at around noon on Dec 21 last year. A 38-year-old software engineer who fell prey to the same scam on Dec 28 told ST that he lost about $250,000 he had been saving since 2010. The father of a young child with special needs said the loss has been devastating, and he has been hiding it from his family. The bank said it has since halted its plans to phase out physical hardware tokens by the end of March this year, and has also stopped sending SMSes with links in them in the light of the spate of phishing incidents. Cyber security expert Anthony Lim, who is also a fellow at the Singapore University of Social Sciences, said scammers have advanced software enabling them to spoof telecommunications services and send SMSes that appear in the same threads used by real organisations. He added that even if victims did not provide their one-time passwords (OTPs), they would have sealed their fate when they entered other bank details on the fraudulent sites. "Once the victim unwittingly responds by entering the bank account credentials, the hackers' technologies can divert and capture a copy of the SMS OTP issued by the bank," he said.

OCBC Bank said it has begun making goodwill payouts since Jan. 8, 2022 to customers who had fallen prey to the recent SMS phishing scam. The payouts to this group of customers are made on goodwill basis after thorough verification, taking into account the circumstances of each case, the bank said in a press release on Jan. 17. To date, more than 30 customers have received the payments. Particularly aggressive scam OCBC said the scam was particularly aggressive and highly coordinated as it preyed on people’s fear that there was an issue with their bank accounts or credit cards. Past cases of SMS phishing scams largely targeted consumers with "too good to be true" deals, OCBC said. The bank’s investigation has confirmed that victims who had fallen prey had provided their online banking log-in credentials to phishing websites. The scammers then acted very quickly by fraudulently transferring the monies out of the customers’ bank accounts. https://mothership.sg/2022/01/ocbc-pay-out-scam-victims/ Question, will DBS do the same "goodwill" payouts for its customers if its customers encounter similar scams?

why "discontinue" the physical token and only accept phone apps it's safe ... got 2FA isn't if insist using physical token, the scammer would not be able to add NEW PAYEE and raise LIMIT to transfer money out ... FAST can transfer $200K chop chop curry pop ... don't play play

Beware of Scam!!! Can you tell which is the correct page?

I hv Kaspersky anti virus and firewall Just noted that every page I visited marked 23/07/2006 7:16:06 AM http://pagead2.googlesyndication.com/pagead/show_ads.js denied 23/07/2006 7:16:54 AM http://pagead2.googlesyndication.com/pagead/show_ads.js denied 23/07/2006 7:17:39 AM http://pagead2.googlesyndication.com/pagead/show_ads.js denied 23/07/2006 7:17:56 AM http://pagead2.googlesyndication.com/pagead/show_ads.js denied