OCBC Suffered With Customers Being Scammed Out Of $8.5M
OCBC Bank Phishing Scams: $8.5 Million Lost to Fake Messages
OCBC Bank customers in Singapore were scammed out of $8.5 million through phishing messages that appeared to come from legitimate bank sources.
The article on Channel News Asia discusses how the fraudulent scheme operated and what banks, customers, and authorities can do to prevent such incidents in the future. The phishing attack has raised significant concerns about the security of SMS-based communication in banking.
