8 Suspects Arrested After 60 Victims Lose Over S$60,000 In DBS Phishing Scam
Despite efforts to curtail scams in Singapore, they prevail, with some targetting victims in creative ways which we may not expect.
Thankfully, the authorities are still clamping down on such cases, most recently arresting eight individuals involved in a phishing scam targetting DBS customers.
Between 5 to 8 Jun, these individuals reportedly caused 60 victims to lose over S$60,000.
Investigations for cheating and money laundering crimes are currently ongoing.
Police arrest eight individuals for suspected involvement in DBS phishing scam
According to a press release on Thursday (9 Jun), the Singapore Police Force (SPF) collaborated with DBS to arrest eight suspects in an islandwide operation the day prior (8 Jun).
The individuals were believed to be part of a scam that cost 60 victims over S$60,000.
These victims allegedly received SMSes with “SG-DBS” and “DBS-Notice” alpha tags claiming that their cards had been blocked or bank accounts frozen due to unusual activity.
The messages then direct them to verify their identity by signing in via a clickable link.
On the fake log-in page, victims had to key in their online banking username, password, and card details.
They also had to enter the One-Time Password (OTP) that they received on their phones, which granted scammers access to their funds.
Victims thus had no knowledge of the scam until they received notifications about unauthorised transactions.
Suspects under investigation for cheating or money laundering offences
The seven men and one woman whom police suspect to be part of this scam are between 17 and 33 years old. They are currently under investigation for money laundering or cheating offences.
A cheating offence could cost them up to 10 years in jail and a fine, while money laundering entails a possible 10-year prison term, up to S$500,000 fine, or both.
The SPF reiterated that they take scams seriously, and will not hesitate to deal with perpetrators according to the law.
In a Facebook post on 8 Jun, DBS also reminded customers to be alert and note that the bank would “never send any SMS with clickable links”.
Be wary of possible scams
Nobody would want to lose their hard-earned money to a scam.
Even if banks implement new measures to protect us from such dangers, we need to play our part too.
Therefore, it is important for us to be vigilant, especially when it comes to our money and personal information.
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