Young couple lost $120k in fake OCBC text message scam

[JustOneSingh]

KNN my uncle think is vallam kali formation you have achieved.

Bhai,

Fortunately, the Govt agencies did not approve my tandoori chicken concept.

Otherwise, I would have suffered a big loss due to the Covid pandemic.

As what you would exclaim : HENG arh.

 

[JustOneSingh]

That means having $200k in same bank splitted into several account can insure upto $250k?

Bhai,

Correct, but SDIC liability :

the total amount of insured deposits is then covered up to S$75,000.

 

[sweetiepie]

Bhai,

Correct, but SDIC liability :

the total amount of insured deposits is then covered up to S$75,000.

KNN KNN KNN so final ans is insured 75k or 250k ? KNN

 

[JustOneSingh]

That means having $200k in same bank splitted into several account can insure upto $250k?

Bhai,

You are better splitting them to 3 banks :

e.g. : DBS, OCBC, UOB, and/0r Bank of India, Bank of China ?

 

[JustOneSingh]

KNN KNN KNN so final ans is insured 75k or 250k ? KNN

Bhai,

As above,

split 60K to 70K into 3 major Local banks.

 

[sweetiepie]

Bhai,

As above,

split 60K to 70K into 3 major Local banks.

Then my uncle will need to have account in almost all banks in sg

 

[JustOneSingh]

KNN KNN KNN so final ans is insured 75k or 250k ? KNN

https://www.forbes.com/worlds-best-banks/#76a809241295

 

[JustOneSingh]

Then my uncle will need to have account in almost all banks in sg

Bhai,

Be safe.

Only waste half an hour to open new accounts.

 

[JustOneSingh]

Then my uncle will need to have account in almost all banks in sg

Bhai,

I received lots of scammers' emails, Sms, WhatsApp, etc too.

Just Ignore and Delete them away.

 

[CPTMiller]

Shocking news indeed...a young couple in their 20s can save $120K ?????

Young couple with less financial commitments each save $1k monthly.
Why not?

 

[countryman]

Young couple with less financial commitments each save $1k monthly.
Why not?

Now they're trying to claim back from the bank saying it's the bank's negligence...

 

[countryman]

No need to guess. There is only one greedy pig race.

Who was the pig racing with? Or was the pig chasing u?

 

[JOKERCHEW]

DBS, OCBC, HSBC, CitiBank, MayBank, StanChart, BOC, BOI, where else to deposit money ah?

mine in my new milo tin, old one too rusty already

WTFF

My Sheepie coin bank.
Already 6.9k of 5cents == $345.

 

[cocobobo]

How did the scammers get the sms for 2fa?

It means sms can be too easily hijacked (anyone ever heard of encrypted sms? Even WhatsApp got encryption).

Means there's a major flaw in international banking system. Open season for hackers.

 

[Kee Chew]

Lawyers could look into the Bank's IT infrastructure for potential weakness and the sms providers.

insiders shoulder be probe too esp those with access to depositors hp numbers.

 

[sweetiepie]

step by step analysis of the scam if the banking security was not compromised :

1. Victim click on a link and leedirected to fake ocbc website
2. Victim entered userid and password keystroke leecorded by scammer end
3. Victim entered sms otp and keystroke also leecorded by scammer end
4. Scammer used the collected information to login to the real website and took over control of their account.
5. That means not necessarily the money is inside savings account I.e they can also terminate a fix leeposit and flow the money back to saving account thereafter scammer can change the dailee transfer leemit and transfer the money to an oversea account.

Possible scenario
Scammer just anyhow mass sent sms to a wide group of sinkies including those that doesn't have ocbc account.

If this is the case bank should be able to know which oversea account the money has been transferred to.

Things will be more complicated if the banking system was compromised and if this is the case bank should be liable.

 

[sweetiepie]

step by step analysis of the scam if the banking security was not compromised :

1. Victim click on a link and leedirected to fake ocbc website
2. Victim entered userid and password keystroke leecorded by scammer end
3. Victim entered sms otp and keystroke also leecorded by scammer end
4. Scammer used the collected information to login to the real website and took over control of their account.
5. That means not necessarily the money is inside savings account I.e they can also terminate a fix leeposit and flow the money back to saving account thereafter scammer can change the dailee transfer leemit and transfer the money to an oversea account.

Possible scenario
Scammer just anyhow mass sent sms to a wide group of sinkies including those that doesn't have ocbc account.

If this is the case bank should be able to know which oversea account the money has been transferred to.

Things will be more complicated if the banking system was compromised and if this is the case bank should be liable.

Step 3 need to leecorrect
After victim entered the userid and password the scammer needs to quicklee enter it in the real website. But the otp will be sent to the victim that means victim leeceived the otp and entered it and collected by the scammer to proceed to quicklee entering the otp before it expires.

 

[sweetiepie]

Step 3 need to leecorrect
After victim entered the userid and password the scammer needs to quicklee enter it in the real website. But the otp will be sent to the victim that means victim leeceived the otp and entered it and collected by the scammer to proceed to quicklee entering the otp before it expires.

From here my uncle think is not that ocbc doesn't have the overseas leeceipent account it just that it is not easy to know which/who's transactions were leegitimate and which is not as my uncle also think the scammer transferred out to various cuntries and various account. Also in order the catch the culprits will leequire many cooperation from overseas counterparts which my uncle think the bank doesn't want to get involve.

 

[sweetiepie]

From here my uncle think is not that ocbc doesn't have the overseas leeceipent account it just that it is not easy to know which/who's transactions were leegitimate and which is not as my uncle also think the scammer transferred out to various cuntries and various account. Also in order the catch the culprits will leequire many cooperation from overseas counterparts which my uncle think the bank doesn't want to get involve.

Interim conclusion from my uncle is sinkie motto = you die is your business

 

[JOKERCHEW]

step by step analysis of the scam if the banking security was not compromised :

1. Victim click on a link and leedirected to fake ocbc website
2. Victim entered userid and password keystroke leecorded by scammer end
3. Victim entered sms otp and keystroke also leecorded by scammer end
4. Scammer used the collected information to login to the real website and took over control of their account.
5. That means not necessarily the money is inside savings account I.e they can also terminate a fix leeposit and flow the money back to saving account thereafter scammer can change the dailee transfer leemit and transfer the money to an oversea account.

Possible scenario
Scammer just anyhow mass sent sms to a wide group of sinkies including those that doesn't have ocbc account.

If this is the case bank should be able to know which oversea account the money has been transferred to.

Things will be more complicated if the banking system was compromised and if this is the case bank should be liable.

WTFF

You said until so choon ?

LikeLee your wise wiser Unker is the Mastermind ?