#BeAProAgainstCons with OCBC – empowering you to bank safely and securely

The Shared Responsibility Framework (SRF) was introduced by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) to address how banks, telcos and customers can work together to prevent phishing scams.

The SRF applies to scams that follow the pattern of a “seemingly authorised transaction” (as defined in the SRF guidelines):

1. The scammer impersonates a legitimate entity that offers a service
2. The customer clicks on a link provided by the scammer and keys his/her account credentials into the fabricated platform
3. The scammer takes over the customer’s account using his/her credentials and makes unauthorised transactions

Our responsibilities under the SRF are set out in Section 4 of the E-Payments User Protection Guidelines (EUPG). They include:

• Cooling-off period: We enforce a cooling-off period after OCBC OneToken is activated on a new device. During this time, you will not be able to perform high-risk activities (e.g. adding new payees, increasing limits or changing contact information).
• Real-time alerts: We notify you, in real time, of outgoing transactions and high-risk activities that you perform.
• Reporting channel and kill switch: You may report fraud to us at any time, including by activating the OCBC Kill Switch. The OCBC Kill Switch, which is available on the OCBC app, allows you to temporarily suspend access to your accounts and stop any payments.
• Enhanced fraud surveillance: We continuously enhance our fraud monitoring systems to protect you from scams. As a result, you may sometimes experience a payment or transfer being held or rejected if unusual activity is detected; we may also call you to verify its purpose. We will never ask you to transfer money to us or give us your online banking credentials.

The SRF applies to all personal current and savings accounts, including joint accounts

Yes. You will be immediately notified via the OCBC app or Internet Banking (depending on the platform you used to make the transaction). We will also provide you with the next steps. If your payment or transfer has been placed on hold but you are sure that it is legitimate, you need not take any action – it will automatically be released after 24 hours.

You may release your payment or transfer before the cooling period ends at an OCBC ATM.

You may cancel it via the OCBC app or Internet Banking.

• Use OCBC Money Lock to keep your funds safe.
• Keep your contact details up to date to ensure you receive timely updates from us.
• Never reveal your personal or banking details (e.g. Singpass login credentials, banking credentials or OTPs) to anyone.
• Do not click on links in SMSes or emails. We will never send you SMSes or emails with clickable links.