#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

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

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.

• 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.

On 15 October 2025, new industry-wide safeguards will take effect to better protect you from phishing scams.

When a period of unusual activity is detected (that is, when over 50% of an account balance of at least S$50,000 is cumulatively transferred out within a 24-hour period), we will reject such payments and transfers – or place them on hold for 24 hours before releasing them. This is to give you time to cancel such payments and transfers in case of a scam.

As these safeguards are part of an industry-wide initiative involving all major banks and the Monetary Authority of Singapore (MAS), you will not be able to opt out of them.

To avoid potential delays in payments and transfers, we recommend reviewing your transactions and planning ahead where possible.

Apart from the enhanced safeguards, we have other security measures to protect you against potential scams. For example, we may call you to verify transactions that we suspect may be unauthorised.

Importantly, we will never ask you to transfer money to or share your banking details with us, or download apps from sources other than official app stores. We will also never transfer calls to external parties like the police or government officials.

Yes. If your payment or transfer is rejected or placed on hold, you will be notified via the OCBC app or Internet Banking (depending on the platform used) once you submit the request. We will also inform you of the possible 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.

If your payment or transfer is rejected or placed on hold, you will be notified via the OCBC app or Internet Banking (depending on the platform you used) once you submit the request. We will also inform you of the possible next steps.

There may be instances where a payment or transfer that you urgently need to make is placed on hold. If you wish to release such payments or transfers before the 24-hour cooling period ends, you can do so at these OCBC ATMs (you will need an OCBC ATM/debit/credit card and its PIN).

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

For joint accounts, only the person who requested the payment or transfer can request its release before the 24-hour cooling period ends.