Serious OCBC Introduces 'Circuit-Breaker' For All Their Banking Accounts! Sinkies No Need Fear Getting Scammed Anymore!

[JohnTan]

SINGAPORE: OCBC Bank on Wednesday (Feb 16) rolled out an emergency “kill switch” that will allow customers to freeze their bank accounts if they suspect they are a victim of a scam.

The function, which can be used for both current and savings accounts, can be activated by using option “8” via the bank’s official contact number or at standalone OCBC Bank ATMs.

This is part of OCBC’s enhanced anti-scam measures following a recent high-profile case, where a total of S$13.7 million was lost in phishing scams involving SMSes impersonating OCBC Bank.

The function will be available on all OCBC ATMs by March.

With the “kill switch”, customers can immediately freeze all their current and savings accounts – including joint accounts – if they suspect they are a victim of a scam or if they believe key account-related details have been otherwise compromised.

ATM access, debit and credit cards and digital banking, as well as OCBC Pay Anyone app access, will also be affected.

“Once the ‘kill switch’ is activated, no transactions – whether done digitally, via an ATM or at branches – can be made,” the bank said. “Even recurring or pre-arranged fund transfers will be disabled.”

After the “kill switch” is activated, an OCBC customer service executive will then contact the customer to remove compromised bank account access or cards, and issue new ones, it added.

“Only a bank branch employee or customer service executive can deactivate the switch – and would only do so after receiving duly verified instructions from the customer,” OCBC said.

“Once the kill switch is deactivated, the customer’s account will return to ‘normal’ and all settings prior to the account suspension – including GIRO arrangements and future-dated funds transfers – will be reinstated.”

OCBC also introduced a dedicated hotline option for customers seeking assistance for suspected fraudulent transactions on Jan 18.

A specially trained customer service executive will help customers freeze all bank accounts, guide them through the process of making a police report and following up on their banking activities after informing the bank of the fraud.

https://www.channelnewsasia.com/sin...stomers-freeze-all-accounts-case-scam-2501741

 

[jw5]

View attachment 134497

SINGAPORE: OCBC Bank on Wednesday (Feb 16) rolled out an emergency “kill switch” that will allow customers to freeze their bank accounts if they suspect they are a victim of a scam.

The function, which can be used for both current and savings accounts, can be activated by using option “8” via the bank’s official contact number or at standalone OCBC Bank ATMs.

This is part of OCBC’s enhanced anti-scam measures following a recent high-profile case, where a total of S$13.7 million was lost in phishing scams involving SMSes impersonating OCBC Bank.

The function will be available on all OCBC ATMs by March.

With the “kill switch”, customers can immediately freeze all their current and savings accounts – including joint accounts – if they suspect they are a victim of a scam or if they believe key account-related details have been otherwise compromised.

ATM access, debit and credit cards and digital banking, as well as OCBC Pay Anyone app access, will also be affected.

“Once the ‘kill switch’ is activated, no transactions – whether done digitally, via an ATM or at branches – can be made,” the bank said. “Even recurring or pre-arranged fund transfers will be disabled.”

After the “kill switch” is activated, an OCBC customer service executive will then contact the customer to remove compromised bank account access or cards, and issue new ones, it added.

“Only a bank branch employee or customer service executive can deactivate the switch – and would only do so after receiving duly verified instructions from the customer,” OCBC said.

“Once the kill switch is deactivated, the customer’s account will return to ‘normal’ and all settings prior to the account suspension – including GIRO arrangements and future-dated funds transfers – will be reinstated.”

OCBC also introduced a dedicated hotline option for customers seeking assistance for suspected fraudulent transactions on Jan 18.

A specially trained customer service executive will help customers freeze all bank accounts, guide them through the process of making a police report and following up on their banking activities after informing the bank of the fraud.

https://www.channelnewsasia.com/sin...stomers-freeze-all-accounts-case-scam-2501741

Does activating the kill switch require clicking onto a ink or going onto an app and keying in a one-time-password.?

 

[JohnTan]

Does activating the kill switch require clicking onto a ink or going onto an app and keying in a one-time-password.?

It can be done by calling the ocbc hotline. Are you thinking of pranking your friends who have OCBC accounts? Don't do it.

 

[jw5]

It can be done by calling the ocbc hotline. Are you thinking of pranking your friends who have OCBC accounts? Don't do it.

It never crossed my mind to prank anyone. I don't do pranks.

 

[Hypocrite-The]

So all along there was no kill switch? Wat a safe place to do banking in singkieland.

Is this how the 'kill' switch will work?

 

[Hypocrite-The]

Looks like they are finally closing the gate after the horse has bolted..

 

[sweetiepie]

By the time kill switch activated my uncle think the ter nao account already got $ flow out. Calling leeleecated hotline ? You leelee think there will be ter nao cso answering ?
Hints : moh can say oh now after 10pm you can book appt for the next day for Polyclinic appt instead of 12am onwards on the same day. You leelee think it will work
Don't believe go and see for yourself

 

[JHolmesJr]

How lovely....what most don't realise is that this can also be commandeered to freeze your bank account when you fall foul of
someone in high places.
Social credit system is here folks, buckle up!

 

[Leckmichamarsch]

DBS just watches
contd tobdeny refund becos MAS. ABS backing Piyush Gupta to the end....record profits somr more
BIG BONUS. SUPER SHARE OPTION
PAYS TO BE ARSEHOLE CECA BANK

 

[red amoeba]

Surely the con artist will soon go kill ppl account and blackmail them to get them re activated again. Once again those scholars are trying to kill an ant w an atomic bomb.

 

[Focus]

Are you thinking of pranking your friends who have OCBC accounts? Don't do it.

That's my first thought too.
would be fun since it is almost automated, minimal verification to save time.