As soon as a new scam comes to light, evildoers will often have a new iteration in the pipeline, ready to ensnare their next victim.
A phishing scam making rounds recently impersonates DBS bank and claims that their prospective victims’ cards are blocked or that their accounts have been frozen.
Source: Facebook
The SMS also includes a clickable link which brings victims to a spoofed website that asks users to key in their personal information.
The Singapore Police Force (SPF) has since reiterated that banks will never send any texts with clickable links and urged users to be vigilant.
According to Channel NewsAsia (CNA), these SMS scams would involve texts from senders named “SG-DBS” or “DBS-Notice”, among others.
The SMSes claim that the customer’s card had been blocked or that their accounts were frozen due to suspicious activity.
In order to rectify the ‘situation’, customers would be asked to verify their identity through an embedded link.
The victim would then be routed to a fraudulent log-in page after clicking the link in the SMS. Once there, customers would be requested to enter their e-banking username and password.
Afterwards, they’d be sent to another fake website, where victims would be asked to enter one-time passwords (OTP) they received on their phones.
Those who fall victim to the scheme will soon find unauthorised transactions made from their bank accounts.
Due to the rise of such scams, DBS and SPF have jointly shared numerous advisories, highlighting the latest iterations of these scams.
In a joint statement, the institutions shared that it might be necessary for DBS to take “short-term measures” to disrupt scammers and protect customers.
However, when asked to comment further about these “short-term measures”, DBS declined to comment.
Nevertheless, they seek customers’ patience and understanding for any potential delays.
Given the slew of recent bank-related scams, we’re glad the authorities are taking proactive steps to prevent customers from falling victim.
We hope the measures implemented will prove successful in hindering the scammers’ schemes.
If you know anyone who received such SMSes, be sure to inform them of the latest scam so they do not fall prey to the scammers.
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Facebook & Milelion.
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