Ask telcos too. Why so easy to

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ditti
2022-01-10

Ask telcos too. Why so easy to spoof authentic business numbers?

Commentary: Phishing and other SMS scams – shouldn’t banks bear the cost?

Millions have been lost by customers but could safeguards have been put in place by banks to protect the monies of their customers? This phishing problem is a shared responsibility, Pinsent Masons partner Bryan Tan says.

Commentary: Phishing and other SMS scams – shouldn’t banks bear the cost?

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Why so easy to spoof authentic business numbers?","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9006496999","repostId":2202242778,"repostType":2,"repost":{"id":"2202242778","pubTimestamp":1641765600,"share":"https://www.laohu8.com/m/news/2202242778?lang=&edition=full","pubTime":"2022-01-10 06:00","market":"sg","language":"en","title":"Commentary: Phishing and other SMS scams – shouldn’t banks bear the cost?","url":"https://stock-news.laohu8.com/highlight/detail?id=2202242778","media":"CNA","summary":"Millions have been lost by customers but could safeguards have been put in place by banks to protect the monies of their customers? This phishing problem is a shared responsibility, Pinsent Masons partner Bryan Tan says.","content":"<html><body><div><p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">SINGAPORE: In December 2021, OCBC Bank made several announcements warning about scams targeting OCBC customers.<span>  </span></span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">These SMSes purportedly from OCBC claimed there were issues with the recipient’s bank accounts or credit cards. But they were not actually sent from the bank. </span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">Instead, the SMSes carried links to a fraudulent website requesting for banking information and passwords to resolve these “issues”. </span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">Unsuspecting customers would be asked to key in sensitive bank account login information like their username, PIN and One-Time Password (OTP). </span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">Using this information, the scammers could then transfer monies out of the affected customers’ accounts and carry out other transactions.</span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">The scammers would reroute received monies through various, often overseas accounts, making it difficult to track their movement and even harder to recover the cash.</span></p>\n<p><span lang=\"EN-GB\" xml:lang=\"EN-GB\">At least S$8.5 million have been lost in December to such scams involving OCBC, according to the Singapore Police Force.</span></p></div></body></html>","source":"can_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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