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FINANCIAL SERVICES | Staff Reporter, Singapore
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Singapore police warns about bank scams from phishing websites

They reportedly offered new investment schemes and software to bank holders.

The Singapore Police alerted bank holders about reports received by the agency that victims were cheated by phishing websites disguised as Singapore banks.

In their Facebook account, the agency said that the reports found that victims were cheated into providing their personal information and credit card details by fake websites.

Meanwhile, some experienced the scam over the phone as they responded to online advertisements or through text messages that were purportedly from DBS or OCBC. The victims later found that unauthorised transactions in various currencies were delivered through their credit cards.

According to the police, the report cases noted that the victims would either see the Facebook advertisements or receive an SMS purportedly from one of the banks regarding investment. Upon clicking links provided, they were directed to a website that promotes a new investment scheme or software in which they need to provide their personal information, credit card details, and a one-time password (OTP) in order to sign in.

For some victims, the scam was made through a phone call where they provide the information after receiving a call from someone purportedly from a bank.

With this, the police warned the public to follow some measures against the scams.

“Be wary when you are asked to click on links provided in emails and SMSes, even if they seem to be sent by organisations that you are familiar with,” the agency said in its Facebook page. “You should always type the URL of the official website directly onto the address bar of your web browser.”

The police reminded the public to observe signs when visiting secure websites, as the fraudulent ones may appear genuine.

“Secure websites use 'https:' instead of 'http:' at the start of the internet address, or display a closed padlock or unbroken key icon at the bottom right corner of your browser window,” the Singapore Police explained. “They are generally encrypted to protect your details.”

They also urged bank holders to be careful when asked to disclose personal or banking details over the internet. To be secured, they suggested to call the bank’s customer hotline number for queries.

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