[sclim]

one way to hedge loses tothis type of online scam is to use only 1 account to link for electronic payment. limit the amount in this account to a small number that can cover 80% of your purchases. top up via atm

example put 5k or lesser in this account which for most people is enough for a month spending.
then transfer in monthly or when needed. in the cas eof being scam. max lost due to illegal transfer is 5k or less.

credit card is the other area of potential losses. bank opening without one knowledge is another. (cannot find a way to stop this yet.) maybe someone got hit has to sue bank in a class-action lawsuit to shake them on their security and verification process. now some online verification requires real person over video with moving parts. etc.
overseas internet ip address or from proxy ip address must be accepted for creation or transfer.
bank should allow individual to specify no overseas initiated transfer. that will reduce number of cases. as most people are most of the time in singapore. scammer if base in singapore faces higher risk of being arrested.

last why does bank need to open access to overseas ip access. most of the transactions are within singapore. why expose singaporean when only small proportion of people is outside of singapore doing those transactions. and can always allow time limit open up for transfer with better verification process.