OCBC implements anti-scam measures following increased phishing attacks

One measure is the removal of the clickable links in SMSes sent by the bank.

Anti-scam measures were the main focus of OCBC in their latest move to address the latest influx of SMS phishing attacks. 

Clickable links in both SMSes and marketing materials have been removed since 11 January.

Default funds transfer limits for PayNow were also set to $1,000 from the previous limit of $5,000 last 14 January, with the amount being allowed per transaction being adjusted to $200. This is lower than the previous default of $1,000.

Transfer notifications for funds transfers and payments for PayNow and FAST transfers are at $0.01. 

A 24-hour cooling period was also put in place for digital token provisioning, with 31 January 2022 also seeing a 24-hour cooling-off period for key account changes.

Outside of these current measures, a dedicated customer service care team has been in place, with the team seeing a permanent fixture.

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