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Since the start of December, at least 469 people have fallen prey to phishing scams involving OCBC Bank, with reported losses totaling at least $8.5 million. Most of the amount was lost over the past two weeks, said the Singapore police on Thursday evening, Anjali Raguraman reported for the Straits Times.
Photo Insert: OCBC Bank main branch
Over the Christmas weekend alone, OCBC said 186 customers lost about $2.7 million.
Victims received unsolicited messages purporting to be from the bank, claiming there were issues with their banking accounts and they had to click on a link given in the message to resolve the issue. The link led to fake bank websites and victims were asked to key in their Internet banking account login details.
Victims received unsolicited messages purporting to be from the bank, claiming there were issues with their banking accounts and they had to click on a link given in the message to resolve the issue. They discovered that they had been scammed when they received notifications that there were unauthorized transactions in their bank accounts.
"Once the funds have been fraudulently transferred out of the victim's bank account, it would be challenging and difficult to recover the stolen monies," said the police.
They added that OCBC Bank has warned its customers about the phishing SMS via several channels, including its online banking platforms, social media page and media advisories.
Having seen an increase in such phishing scams, the police are urging the public to follow crime prevention measures.
First, do not click on dubious URL links provided in unsolicited text messages. OCBC will not send SMS containing bit.ly links. Second, always verify the authenticity of the information with the official website or sources.
Third, never disclose your personal or Internet banking details and one-time password to anyone. Last, fraudulent transactions should be reported to your bank immediately.
