Swindlers had sent out fake bank alerts that spoofed the bank's official SMS channel, duping many of the victims into giving up their personal account information last month.over the incidents that happened during the year-end holiday period.When scams occur due to one’s ignorance, fraudulent or negligent actions, like sharing bank tokens, ATM cards, PIN and passwords knowingly to another person, then the onus should not be on the banks to reimburse the affected victims for the lost money.
Ms Lai of Grant Thornton Singapore said that expecting all other banks to copy OCBC's move to fully reimburse their customers is a dangerous mindset, since people may subconsciously be less mindful and stop being vigilant. "The banks should be required to take some accountability and consider providing contingent reimbursements.
"For instance, when scams arise because of a lapse — even a momentarily lapse — in the cybersecurity, internal controls or safeguards and features… reimbursements should be made to the affected victims in whole, based on the affected facility. One example is when criminals impersonate victims to socially engineer telecommunication firms to change SIM cards for phones and get one-time password notifications to be re-directed to the new SIM card.
Analysts are paid to say things.
kenjiling
I deposited money in your vault and someone robbed the bank. I see it as same scenarios .. banks are liable . No?
analysts must have no bank accounts or uses biscuit tins?