[sgbuffett]

Bank will take years to investigate. Because they will want to use time to get you forget the incident and feel less pain in lossing the money

There were 470 victims of this scam.... The flaws lies with the OCBC system which was exploited by scammers.

Yet the bank is pushing away responsibility. No where in its statement is there any mentioned safeguards are breached 



1. Shouldn't the bank secure its channel of communications to customers...is that not most important? If your SMS chained can be hijacked its like people can impersonate your bank staff and take depositors money.

2. OCBC brazen unapologetic statement to quickly blame customers made before it fully investigate its own system and processes shows how little regard for need to have tight iron-clad security.

4. MAS is really toothless to allow OCBC make such a statement that simply push responsibility to customers it will undermine confidence in Singapore as a financial center.