30 victims of OCBC Bank phishing scam receive goodwill payouts

The phishing scam surfaced in December 2021.

OCBC Bank said they have already given goodwill payouts to at least 30 victims of the SMS phishing scam which surfaced last December 2021.

The distribution of payouts began on 8 January.

Based on the bank’s investigation, the victims “provided their online banking log-in credentials to phishing websites.”

“Thereafter, the scammers were very fast in fraudulently transferring the [money] out of the customers’ bank accounts,” OCBC Bank added.

OCBC Bank also said more victims will be contacted soon about the payouts once they have reviewed and validated their cases.

“The bank seeks the patience and understanding of all affected customers to allow it the time to properly review and validate each case thoroughly,” OCBC Bank said.

CEO Helen Wong said OCBC has been teaming up with the Association of Banks in Singapore and the Monetary Authority of Singapore to “review and further strengthen the anti-fraud detection and prevention measures” of the bank.