Kenny Chee
Senior Tech Correspondent
UPDATED 7 HOURS AGO
SINGAPORE - A new registry that organisations, including banks, can sign up for could help reduce the spoofing of names used for sending SMSes, which happened in recent SMS phishing scams that caused many OCBC Bank customers to lose funds.
Some banks are already on the registry, with OCBC understood to have joined it recently.
But lawyers told The Straits Times that having the registry ...... might not increase banks' liability for the money customers lose.
Customers' actions still play a big part in the equation
......
If the customers give their banking details to scammers, even if they are tricked into doing so, and the banks' systems are not compromised and their practices meet industry standards, the customers are often responsible for the lost funds in the scams, not the banks, the lawyers said.
https://www.straitstimes.com/tech/tech-n...t-to-scams
What a silly article
Of course it does not cure all as cybercrimals will always try other means but it makes it harder for them.
Banks not taking available9 precaution especially the easy ones are actually more liable as they attract scammers to their customers.
Why OCBC was the target and not banks in Indonesia or Phillipines?
(19-01-2022, 08:47 AM)sgbuffett Wrote: [ -> ]What a silly article
Of course it does not cure all as cybercrimals will always try other means but it makes it harder for them.
Banks not taking available9 precaution especially the easy ones are actually more liable as they attract scammers to their customers.
Why OCBC was the target and not banks in Indonesia or Phillipines?
Obviously, it is because there is generally more money per account in OCBC than banks in Indonesia or the Philippines.
However, I do wonder why DBS or UOB are not targeted.
(19-01-2022, 09:06 AM)Levin Wrote: [ -> ]Obviously, it is because there is generally more money per account in OCBC than banks in Indonesia or Philippines?
However, I do wonder why DBS or UOB is not targeted.
Likely that OCBC accounts are more meaty.
Bcoz ocbc is as solid as rock. Scammers want the challenge.
(19-01-2022, 09:06 AM)Levin Wrote: [ -> ]Obviously, it is because there is generally more money per account in OCBC than banks in Indonesia or the Philippines.
However, I do wonder why DBS or UOB are not targeted.
Because you are brain dead
Why dun you put up some charts and graphs, like you always do?
(19-01-2022, 09:13 AM)SotongOngTee Wrote: [ -> ]Likely that OCBC accounts are more meaty.
The biggest tio scammed is half a mil.
(19-01-2022, 08:47 AM)sgbuffett Wrote: [ -> ]What a silly article
Of course it does not cure all as cybercrimals will always try other means but it makes it harder for them.
Banks not taking available9 precaution especially the easy ones are actually more liable as they attract scammers to their customers.
Why OCBC was the target and not banks in Indonesia or Phillipines?
Why a silly question "Why OCBC was the target and not banks in Indonesia or Phillipines?"
Because the level of english there is as lousy as you, so better to target sinkie..
So, how?
What is the best solution?
(19-01-2022, 08:47 AM)sgbuffett Wrote: [ -> ]What a silly article
Of course it does not cure all as cybercrimals will always try other means but it makes it harder for them.
Banks not taking available9 precaution especially the easy ones are actually more liable as they attract scammers to their customers.
Why OCBC was the target and not banks in Indonesia or Phillipines?
Because Indonesia, Thailand, Philippines, etc. dun use English in business over there. Actually we use English is good for the country as it made Singapore very international. However, using English also put us, the citizens, in bad position when comes to scamming and job competition. My niece in Thailand heads an IT department in Thai telecom. I told her that our IT jobs in Singapore are stolen by foreigners and it might happen in Thailand too. She confidently told me that this will never happen because they use Thai for business communication there and it is not easy for CECA to learn.......
If bank don't hold liability, then what if bank lose money or cannot generate enough profit for investors, can bank ownself scam their own customer, then pretend they are victim?
if bank cannot assure customers security issue, then either don't use the bank and its services. best solution for now.
best solution is all banks set a straight standard, any sms from any bank, no action to be taken. any call, no action to be taken, all action must be done in bank only.