[p1acebo]

But I don't agree that the banks will need to reimburse all losses due to cyber scams. Because these scammers can then scam themselves out of their monies to a fellow conspirator, and complain to the bank and then still get reimbursed by the banks.

[wulala]

the bank could be to scammer itself?

[starbugs]

There should not be a fixed rule of who bears the cost.

E.g. previously OCBC neglected to update their security even after they were alerted to initial scam efforts by the public. Then obviously OCBC should pay.

If you are horny and decide to click whatever your internet "girlfriend" asks you to click, then obviously you have to pay for your own mistake.

[Gemstar]

Banks shd be more responsible. They hv lots of reserves to pay scammed victims. MAS shd act on them to be more responsible in protecting customers. Unfortunately, MAS did nothing.

[forum456]

Banks are the ones who got rid of hardware tokens to save money.
They developed the the security and app but forgot to take into account the features on  the OS of the phones that make customers vulnerable to scammers.

In addition banks implemented transfer mechanisms that allow money to be moved quickly without strong traceability and checks.

Banks should compensate 100%

if you are bank ceo, will you compensate 100% or come up 100% scam free solution ?

very easy to come up a 100% scam free solution.
either the bank or consumer needs to bear the extra cost.

[singlon]

So simple. Withdraw all the $$$ out from the banks who don’t want reimburse. Only deposit $$$ to banks who are willing to reimburse

there a better way Public Banks
everything goes into a single hole.
sure cannot collapse.

[wulala]

if a person enters a bank followed by a robber and the bank got rob, who is responsible for the lost?
When the bank provide a service, they should ensure the highest security and not let hacker breaks into the system through a personal device so easily, it only shows the lack of security from the provider, user are just a bridge to such scam.

[Migrant]

It's your account.
You decide. 
Don't anyhow click. 
You believe you want to help an old friend, so you click.
Got scammed. How? 
Bank got to pay?

[Ola]

This 100% Confirm that PAP is just as

IResponsible and Complacent as ever and ever

They refuse to take action because they want to protect the Biz & Banks

If Banks cannot handle high -tech, just remove the apps

All of us are happy to create 5,000 Banking jobs for our own locals at the Branches.

[K88 shu shu]

pls backdate to yr 2020 when me kena scammed $10 by a young boy boy for "donating rice".

[singaporean1964]

should catch gupta and give him a public caning

[Ola]

Banks has no standards because useless Shoot Blank Queen has no standards

They dare to give out 0.025 interest rates for 10 years

BUT cannot give reliable service

[sclim]

if the banks relied on an out dated way of varifying the indentity of access or even creation of new account then banks should be responsible.'
a password and 2fa is really not enough. when others going into real time picture of person telling to move parts of body. even that is under threat from AI.

[talky]

Banks are the ones who got rid of hardware tokens to save money.
They developed the the security and app but forgot to take into account the features on  the OS of the phones that make customers vulnerable to scammers.

In addition banks implemented transfer mechanisms that allow money to be moved quickly without strong traceability and checks.

Banks should compensate 100%

fully support yr reasoning
MAS also is to be blamed
as she is the governing n regulatory body if safetyis lapsed shld enforce banks to reintroduce the physical token let customers decide digital or physical token

[talky]

something is wrong here. Not beri long ago we hardly ever come to hear any scam.
Now scams everywhere.
Up to no good.
u know wat i mean?

the not so long ago was since all banks stop using physical tokens

[talky]

Banks shd be more responsible. They hv lots of reserves to pay scammed victims. MAS shd act on them to be more responsible in protecting customers. Unfortunately, MAS did nothing.

hope the new mas md has a different thinking than the previous  indian md

[Ola]

https://www.theonlinecitizen.com/2023/02...k-account/

[Alice Alicia]

Of course, the banks.

[Cmpunk]

In sg always the customers at fault

[p1acebo]

All this money is stolen from the bank because of their lax security and software flaws.

The UK govt requires companies and banks to pay for money lost due to security flaws that enable the money to be taken.

I just ask a simple question to show the logic of the above

1. If the hardware token was not phased out how many of the scams would occur.

The answer is no. A proper 2 factor authentication requires a separate physical device. Because the banks chose a flaw unsafe system design all these losses happened.

To me the banks are at fault.

Maybe Jo Teo and imda push too hard? Poor silver generation suffering

[Oasis]

You got scammed knowingly banks will pay. 
Scammer will share part of gain for your cooperation.
So you become a Scammer too.
Dumb gets dumber.

If there is law scammers and their associates get heavy punishment
For example: heavy fine, canning, jail or both canning and jail.

Luànshì yòng zhòngdiǎn
乱世用重典

How drug trafficking is under control.
Why wait and let more people fall into prey?

Can opposition party bring up this scammer issue in parliament?

Suspension of MP's allowance is a non priority issue.

[p1acebo]

Also to be fair, the banks look it this way too. “Victim” says she didn’t authorize the transaction. But the otp was sent and used for the transaction. Another device. But doesn’t mean may not be from “victim” or fellow co-conspirator’s device(s) either.

Not saying that she is, but the “victim” may possibly be a scammer too.

[p1acebo]

I have been “scammed” before too. 

Sometimes we receive (sms) or emails etc and we quickly scroll through them without a thot.  Or if you indulge in online banking. Therein lies the danger. These sms or clicks actually authorize your purchases (fradualently).

My encounter was with Citibank.  Since I also do online purchases, mine was a man in the middle attack.

I filed a dispute transaction with Citibank.  They contacted the merchants and every thing was resolved and refunded back to me in about 3 weeks max (had about 7 to 8 disputed transactions).

Another thing is I logon to check all my expenses almost every other day.

[Ola]

If those useless banks allow above the limit transaction

then this is clearly banks fault


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