[Bigiron]

Customers shouldn't expect banks to reimburse money lost in scams, but industry guidelines will be helpful: Analysts

OCBC bank's decision to fully reimburse all its customers for the money they lost through a phishing scam should not be set as an industry precedent, analysts said. This could lead to customers becoming complacent and cyber criminals targeting Singapore banks.

💰 https://tdy.sg/3tIBLMh

@todayonlinesg

[A2Z]

This is the modern day version of bank run. If all customers kenna scammed, better closed the accounts and get the govt to create a new bank just for the people to save there using old fashioned no sms/digital ways. MAS has been sleeping or rather hands off banks must ensure the highest standard accorded to them. Trust gone, govt trust gone, bank trust gone.

[RiseofAsia]

Better don’t put $$$ in the banks….
Since banks hold no responsibility on bank scams. Furthermore, now banks give pathetic rate.


Please teach them what is called Reputation of a bank.This is $$$ that cannot buy.
The analysts should be sacked.

[debono]

Better don’t put $$$ in the banks….
Since banks hold no responsibility on bank scams.

IMHO, I think putting money in CPF is the best bet...where the interest rate is the best.......

[RiseofAsia]

IMHO, I think putting money in CPF is the best bet...where the interest rate is the best.......

First rule in investment.
Don’t lock your $$$.

Second rule in investment.
Don’t lock your $$$.

3rd rule in investment.
Don’t lock your $$$.

……