Other Online Scams - Tools & Info

OCBC Group | Home | Login | SiteMap | Contact Us

Personal

Corporate

Small and Medium Businesses

Tools & Info

You're in : Home » Tools & Info » Policies & Conditions » Security and Privacy » Other Online Scams

Other Online Scams

Although phishing is now widely known, it is not the only online scam that exists. To counter this problem, it is strongly encouraged that you exercise caution, and prudence to protect yourself from such scams. Knowing how some of these work, will equip you with the knowledge to recognize the tell-tale signs of a scam and safeguard yourself against online fraud.

Always bear in mind the following :

OCBC will never request for you to provide your private particulars such as login ID or PIN for whatever reason.

When in doubt or suspicious about the authenticity of the request, always double-check with the bank. Contact us via our official channels: www.ocbc.com or our hotline 1800 363 3333. Never rely on any information or link from the fraudulent email.

Next Steps :

Some of the more common scams

Vishing (voice phishing)
"Vishing" stands for voice phishing and is one of the variations of the phishing scam.

a) “Vishing”
How it works -an email is sent out requesting the recipient to verify his bank account immediately by calling the stated number in the email. The information given by the recipient over the phone will then be used to siphon money out of his bank account.

b) "Cold-call Vishing"
Automated programs are designed by the fraudsters to make random calls to as many people as possible. The recipient will hear a pre-recorded message citing some valid sounding reason requesting the recipient to enter his account number and PIN or other sensitive information for verification. The information is then used in the same way as illustrated in scenario a).

“Nigerian Scams”
These get-rich-quick scams have been around for many years, initially through letters, faxes, telexes and have progressed to emails.

How it works - a fraudulent email is sent on behalf of a very rich and powerful individual or a government office. The email requests the use of the recipient's bank account to transfer large sums of money out of their country. In return, the recipient will be rewarded handsomely. Should the recipient respond, the fraudster will eventually request for some money to be sent citing reasons like the need to bribe officials who are blocking the transfer.

This is a classic example of "if an offer is too good to be true, it usually is".

Other variations:

- the recipient is a winner of a foreign lottery and will need to pay tax before he can receive his winnings.
- the millions of dollars that need to be transferred is part of the embezzled funds of an ousted / deceased dictator.
- the sender purports to be a company representative and you will need to pretend to be the next of kin of a deceased
customer in order to receive a certain percentage of the estate

Fake Claims of Money Already Transferred

How it works - fraudsters typically prey on online sellers. The fraudsters agree to buy the offered items and send an email purporting to be from the bank, claiming that the money has been transferred to the seller's account. The seller is then tricked into sending the goods thinking that the money will only be credited when the goods are sent out..

Below is one such scam email purported to be from OCBC Bank.

More Examples of Online Scams

- Security Advisory: Lottery Scam Detected (June 2009)
- Security Advisory: Security Alert on Malicious Trojan Virus (Banker) in Circulation (May 2009)

- Security Advisory: Security Alert on a Malicious Trojan (December 2008)
- Security Advisory: SMS Lucky Draw Scam (July 2008)
- Security Advisory: New Phishing Email and Site Detected (June 2008)
- Security Advisory: SMS Phishing (12 June 2007)
- Fraudulent Email Detected (Apr '07)
- Security Advisory: ATM Card Skimmer

Note: OCBC Bank will never send out emails of this nature
OCBC Bank plays no role in transactions of this sort and the above email and all others like it are fraudulent. Recipients are advised to exercise extreme caution and report suspicious emails of this nature to the authorities or to the bank.