Chitchat Sinkie NS Slave Lost $500,000 in OCBC Scam Cry Mother Cry Father!

[tobelightlight]

There is no fancy knowledge required whatsoever. If you have $500,000 in the bank and you're too scared to invest it anywhere else then simply put $450,000 in a term deposit and lock it in so that nobody can transfer it anywhere.

Even this might be a fancy knowledge to this public servant.

 

[Hypocrite-The]

Me think got 500k. N risk averse.. better to put in CPF n it's safe..higher interest rate some more

 

[nirvarq]

Her Excellency Madam Ho Ching shared on fB OCBC scam victim story yesterday then today OCBC said :

OCBC says all affected customers of recent SMS scam to get 'full goodwill payouts' covering the money lost ​

Meaning full reimbursement will be met.​

https://www.channelnewsasia.com/sin...ishing-full-sum-lost-goodwill-payouts-2445231​

PAP Banzai ! Ho Ching Banzai !​

​

​

​

​

Brojay said:
How can entire balance of 250k, 120K and 68k be wiped out within minutes?

No security layer/approval for fund transfer map cap ? No approval for fund transfers?

Failure to anticipate phishing activities and counter them is critical failure on the part of OCBC.

Why do you think OCBC is paying up in full now? To shut people up before more worms from the can crawls out!!!

 

[cocobobo]

0.5% is still way better than leaving it in a cheque or savings account where it is vulnerable to scams.

It's $2,250 per year which is equivalent to a 13th month bonus for many sinkies.

Monthly is $187.50 which is a one night staycation in a 3 to 4 star hotel.

0.5% is probably what he's getting as ocbc preferred customer.

Sinkees are well aware funds have higher returns but even fannie freddie can go bust, let alone new fluffy ones.

 

[LexLuthor]

The OneToken failure​

It is notable that OCBC has stopped the compulsory rollout of their clearly flawed digital token OneTaken since the scam. In 2021, I had to replace my physical token because it expired.

As my mobile device was not compatible with the OneToken, OCBC had issued me a new physical token even though it was to be phased out as they knew I couldn’t activate the OneToken. However, scammers were able to set up the OneToken on their device without additional verification from me, which allowed them to bypass my physical token security. OCBC should have better processes (e.g. a physical one-to-one meeting, phone call) with the client to activate such significant changes to account access.

This guy's account of events is the clearest so far. OCBC has been trying to push the blame on customers being gullible enough to click on the link without addressing the real issue - that the scammers were able to bypass the physical token which would have been required when adding a new payee.

OCBC banking security team was non-existent. The scammers added several new payees without the need for physical token and began transferring money, and OCBC still blur blur put customers on virtual answering machine.

 

[LexLuthor]

Even this might be a fancy knowledge to this public servant.

They have good knowledge about what is required in order to enter the shopping malls and dine in at restaurants.

 

[Tun Tija]

The bank can always say their IT systems is not compromised. No bank customers will have access to audit and scrutinize the robustness of a bank's IT systems. Or how many people in this world actally have the expertise to do so even if you are given the access.

 

[winnipegjets]

Will Mr Praveen Raina, the chief of IT, be fired?​