The Monetary Authority of Singapore said OCBC Bank will be conducting a thorough probe to identify the deficiencies in its processes and implement the necessary measures to address them in the wake of a spate of SMS phishing scams.

This comes after nearly 470 customers lost at least $8.5 million to fraudulent fund transfers in December 2021. 

In The Straits Times' The Big Story, technology, media and telecoms lawyer Bryan Tan tells video editor Olivia Quay whether it is possible for the affected customers to get their money back. Mr Tan is also the cyber response lead for law firm Pinsent Masons Singapore.

The Monetary Authority of Singapore said OCBC Bank will be conducting a thorough probe to identify the deficiencies in its processes and implement the necessary measures to address them in the wake of a spate of SMS phishing scams.
This comes after nearly 470 customers lost at least $8.5 million to fraudulent fund transfers in December 2021.&nbsp;
In The Straits Times' The Big Story, technology, media and telecoms lawyer Bryan Tan tells video editor Olivia Quay whether it is possible for the affected customers to get their money back. Mr Tan is also the cyber response lead for law firm Pinsent Masons Singapore.

Your Way Home with Hongbin Jeong is your 4–8pm drive companion,

Your Way Home with Hongbin Jeong is your 4–8pm drive companion, guiding you through the day’s biggest headlines, trending conversations and the issues shaping Singapore and the world.

From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what’s happening — with clarity, context and a touch of personality.

Whether you’re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected — all the way home.

And she closes the day with a song that says it all.

Your Way Home with Hongbin Jeong is your 4&ndash;8pm drive companion, guiding you through the day&rsquo;s biggest headlines, trending conversations and the issues shaping Singapore and the world.
From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what&rsquo;s happening &mdash; with clarity, context and a touch of personality.
Whether you&rsquo;re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected &mdash; all the way home.
And she closes the day with a song that says it all.