SMS phishing

Experts advise stopping using SMS for sending codes, following OCBC scam

Cybersecurity /

Customers of the Oversea-Chinese Banking Corp. (OCBC) in December 2021 discovered that their hard-earned savings were wiped out in an elaborate phishing scam during the holidays. According to the Straits Times, the initial victims stood at 470, with S$8.5 million lost. During the Christmas weekend alone, 186 people lost S$2.7 million. Bloomberg reported the total […]

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MAS, ABS announce stricter measures for boosting digital banking security

Cybersecurity /

The Monetary Board of Singapore (MAS) and the Association of Banks in Singapore (ABS) disclosed stricter measures that banks and customers must follow to increase the security of digital banking in the country. These measures come at the heels of the recent uptick in SMS-phishing scams targeting bank customers. MAS Managing Director Ravi Menon expressed

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