OCBC and SG police force prevent scam losses worth S$12.6m

About 700 victims were safeguarded from potential loss.

Oversea-Chinese Banking Corporation (OCBC Bank) and the Anti-Scam Centre (ASC) of the Singapore Police Force conducted a one-month operation against financial scams.

Utilising Robotic Process Automation (RPA) technology, the joint forces were able to protect 700 victims and avoided the potential loss of more than S$12.6m (US$9.45m).

The RPA technology enables the police to make precautionary alerts to scam victims, advising the individuals to stop further monetary transactions.

ALSO READ: OCBC Bank opens 'Metaverse branch' in Decentraland

Whilst operations were ongoing, the ASC and OCBC Banks officers conducted "live interventions" by scrutinizing the fund transfers to over 500 bank accounts that were reported as fraudulent.

Collaboratively, the joint forces identified individuals who had transferred money to these scam-marked bank accounts and sent over 1,000 SMSes to notify them of the ongoing scams targeted at them.

($1 = US$0.75)

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