Mother of all scams thread

[Invigorated]

Quite worrying to see that scammers were able to raise limits so easily using mainly just SMS.

It seems to me that changing of certain email passwords can be more difficult, e.g. have to key in personal questions, get app authentication etc.

Are our security systems too backward if changing email password is more difficult than changing limits from 5k to 50k? 

[Gizmore]

49 minutes ago, Dp26 said:

One token is same as the current digital token? 
 

when I changed my phone couple of months ago, I have to update my digital token that’s tied to my old phone. No calls definitely from any of the banks. 
 

but mine is not first time set up but on a new device (like the scammers maybe) also no calls from them 

I believe Onetoken is the same as digital token. 

When I reset my phone back to factory default, I had to call the bank to disable the current onetoken setup before I can re-setup again to use it. I think I had to wait 1 day for that take effect before I could re-setup onetoken.

I also believe, the scammers didn't setup the onetoken. User click on the link, login with real credentials into the phishing website, scammers stole the credentials, login to ocbc online banking, setup payee, request for onetoken or authorization from app. User were duped into thinking that they were indeed 'verifying' whatever they were asked to do, either key in the code from onetoken into the phishing site or approved the authorization request from the app.

[Gizmore]

46 minutes ago, Solar said:

I see... but what about apps installed on the phones? They can pick up activities happening within the phone right?

The current Google Play Store would have flagged these apps. Even if such apps were sideloaded, the current architecture of Android would not have grant permission to these apps to sniff traffic from other apps.

Apple phones have even more stringent security policy.

[Windwaver]

18 hours ago, Dp26 said:

I’m quite sure they dont really profile their victims in that manner.

its all just numbers that they see and money that matters.

 

everyone can be vulnerable here. I also know of a youngish lady working in tech firm almost got scammed by a phone call impersonating China interpol. Haha.

That was a great joke back then after she ‘cleared’ her mind. 

The scam is clever and easy to fall prey to if one is not exactly clear in their mind. Scammers are not just bad, but very innovative 

Sometimes I wonder if a person has never done anything against the law, why be afraid in the first place?

[Windwaver]

16 hours ago, Solar said:

It can happen easily.. same as one anyhow install fishy freeware software in the PC... one installs some unknown apps in the phone.. then these apps will monitor the data you send/receive, and then send the contents out. 

This is one way they get the bank name/site, username and password.

Next step to SMS/call the victim with the number collected and start the next step of the scam.

Use another number & phone solely for highly secure transactions.

[Windwaver]

12 hours ago, Gizmore said:

These days most websites uses encryption. (even this forum uses SHA256 cert) It is not as easily to do "man in the middle attack" where a spyware simply monitors the ip traffic between browser and internet. 

Yup, most frauds in modern days are 'end-user problems' because it's tougher to hack from the outside compared to fixing end-users.

[Dp26]

11 hours ago, Windwaver said:

Sometimes I wonder if a person has never done anything against the law, why be afraid in the first place?

Many ways to scam la. 
 

if not how 400+ ppl lose their money? 

[Windwaver]

https://mothership.sg/2022/01/singaporean-man-lose-ocbc-savings/

I’m a S'porean man, 43. I lost S$500,000 of my life savings over 2 hours in the OCBC phishing scam.

Worked for 20 years, scrimped and saved

I have spent 20 years of my working life to save up for the S$500,000.

Since young, I have worked hard, lived a simple lifestyle and practised saving hard for my retirement.

This was my retirement fund, and now without it, I will most probably have to work till I die - literally.

To think that my life savings of S$500,000 were withdrawn by the scammers over two hours is utterly traumatic.

Since the scam, my wife and I have been severely affected mentally and emotionally, and have both lapsed into depression.

When we talk about the scam, we will end up quarreling.

 

 

Why need to quarrel? Husband and wife can always talk over peacefully 

[Fcw75]

Just now, Windwaver said:

https://mothership.sg/2022/01/singaporean-man-lose-ocbc-savings/

I’m a S'porean man, 43. I lost S$500,000 of my life savings over 2 hours in the OCBC phishing scam.

Worked for 20 years, scrimped and saved

I have spent 20 years of my working life to save up for the S$500,000.

Since young, I have worked hard, lived a simple lifestyle and practised saving hard for my retirement.

This was my retirement fund, and now without it, I will most probably have to work till I die - literally.

To think that my life savings of S$500,000 were withdrawn by the scammers over two hours is utterly traumatic.

Since the scam, my wife and I have been severely affected mentally and emotionally, and have both lapsed into depression.

When we talk about the scam, we will end up quarreling.

 

 

Why need to quarrel? Husband and wife can always talk over peacefully 

$500K leh bro…not $500.

[Windwaver]

21 minutes ago, Fcw75 said:

$500K leh bro…not $500.

I know but his wife wasn't the one that scammed his $$ 

[Windwaver]

https://www.straitstimes.com/singapore/261-people-under-probe-over-scams-in-which-victims-lost-over-3-million

261 people under probe over scams in which victims lost over $3 million

https://www.channelnewsasia.com/singapore/police-investigate-404-people-money-mules-jobs-investment-loan-scams-2355476

More than 400 people under investigation for involvement in scams totalling S$13 million

https://www.straitstimes.com/singapore/courts-crime/168-million-lost-to-scammers-in-first-half-of-2021-overall-crime-up-by-112

$168m lost to top 10 scam types in first half of 2021; overall crime up by 11.2%

[Windwaver]

Comprehensive summary for the saga.

https://www.straitstimes.com/singapore/dont-access-accounts-via-sms-links-ocbc-says-to-customers-what-else-you-need-to-know-to-avoid-scams

Mum of seven children scammed of $100,000, but ‘fault is not mine alone’

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

OCBC Bank has been making goodwill payments to SMS scam victims since Jan 8

SMS scams: OCBC Bank conducting probe into gaps in processes; MAS considering action to be taken

Can bank stop funds transfer by scammer if you immediately report incident to it?

Can fraud victims get their money back if they were the ones who gave scammers bank details?

Anti-SMS spoofing: What is it? Why no mandate for it yet?

Anti-SMS spoofing registry is not a cure-all for setting banks' liability for funds lost to scams

Commentary: Make banks pay for phishing scam losses

Why some OCBC customers in SMS scams did not get OTPs

Is it time to phase out SMS OTPs to stem scam scourge?

OCBC continues with physical tokens, reversing plan to phase them out

 

[Playtime]

49 minutes ago, Windwaver said:

https://mothership.sg/2022/01/singaporean-man-lose-ocbc-savings/

I’m a S'porean man, 43. I lost S$500,000 of my life savings over 2 hours in the OCBC phishing scam.

Worked for 20 years, scrimped and saved

I have spent 20 years of my working life to save up for the S$500,000.

Since young, I have worked hard, lived a simple lifestyle and practised saving hard for my retirement.

This was my retirement fund, and now without it, I will most probably have to work till I die - literally.

To think that my life savings of S$500,000 were withdrawn by the scammers over two hours is utterly traumatic.

Since the scam, my wife and I have been severely affected mentally and emotionally, and have both lapsed into depression.

When we talk about the scam, we will end up quarreling.

 

 

Why need to quarrel? Husband and wife can always talk over peacefully 

While I realllyyyyy feel for his loss. 

But man... to have $500k saving at only 43 years old.. that's amazing. 

[Playtime]

12 minutes ago, Windwaver said:

Comprehensive summary for the saga.

https://www.straitstimes.com/singapore/dont-access-accounts-via-sms-links-ocbc-says-to-customers-what-else-you-need-to-know-to-avoid-scams

Mum of seven children scammed of $100,000, but ‘fault is not mine alone’

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

OCBC Bank has been making goodwill payments to SMS scam victims since Jan 8

SMS scams: OCBC Bank conducting probe into gaps in processes; MAS considering action to be taken

Can bank stop funds transfer by scammer if you immediately report incident to it?

Can fraud victims get their money back if they were the ones who gave scammers bank details?

Anti-SMS spoofing: What is it? Why no mandate for it yet?

Anti-SMS spoofing registry is not a cure-all for setting banks' liability for funds lost to scams

Commentary: Make banks pay for phishing scam losses

Why some OCBC customers in SMS scams did not get OTPs

Is it time to phase out SMS OTPs to stem scam scourge?

OCBC continues with physical tokens, reversing plan to phase them out

 

People signed nda it seems according to today's papers. Not all compensated yet.

If full refund,  ocbc would've announced it. 🤔

Dunno how big the haircut 😬

 

[Scion]

1 hour ago, Playtime said:

While I realllyyyyy feel for his loss. 

But man... to have $500k saving at only 43 years old.. that's amazing. 

yah incredible.. 

500k in 20 years average 2k per mth

at the start surely couldn't save 2k... in later career need to be high earner to make up

also need to be very disciplined to save this amount

[Cheesey74]

1 hour ago, Playtime said:

While I realllyyyyy feel for his loss. 

But man... to have $500k saving at only 43 years old.. that's amazing. 

I think that guy got more than 500k cos we usually have at least 2 banks nowadays, yeah this guy either damn frugal or father rich lor.

But 500k at 43yrs old is peanuts in mcf, waiting for T2 to respond.... wahaha

Edited January 19, 2022 by Cheesey74

[Stratovarius]

From this incident, it seems that SG alot of rich people. All smelly smelly 200 to 500k cash in bank. 🤣

Jokes aside, it will be devastating to lose one's life savings. But a good lesson from this is to NEVER click on any links in SMS or email. Always use the app or actual site. For website, always check that there is a "https" in the front.

[Ganwb79]

1 hour ago, Windwaver said:

I know but his wife wasn't the one that scammed his $$ 

His wife blamed him for being stupid and falling prey to the scam and lost all his (also hers) money?