[sgbuffett]

Here is a good summary of ways scammers/hackers gain access to transfer money out of your bank accounts. Never install 3rd party apps outside official playstore 


OTP that depends on SMS is particularly weak as during installation of the malware the users grant the app.abiloty to read sms.

Some trojans pop up as your DBS bank app when it detect you click on the dbs app. It then logs your key stroke when you use your userid and password...it sends these to the hacker.then uses it because the malware can read your SMS the 2FA that depends on SMS is useless.

How do they take all the money out from CPF is to use the above method to get into your CPF account transfer the money using paynow to your DBS account then use paynow to transfer out to their accounts.

How to overcome fingerprint protection?..There are 2 recent vulnerabilities that can by pass the fingerprint authorisation...you need to upgrade your Android with latest security patch and stop.using older phones that have stopped their security updates.

To lower the risk to minimal use a separate phone for banking and financial....and another phone for everything else.

Always stick with major brand phones so that you get security patches fast and for longer duration. For example Samsung has security support for 5 years whereas Oppo or Vivio have it for only 2 yrs for some.model.

Stop using the phones once security support ends. Always check for this date so you can move everything to a new phones

Remember if you money is stolen from bank or CPF nobody is going to compensate you a single cent and your.life is ruined because of this.