Email Claiming To Be From POSB Shows How Realistic Scams Can Appear

A new email from “Posb Bank Ltd.” claims that the Monetary Authority of Singapore requires customers to update their details with the bank.

To tech-savvy Singaporeans, one look at the dubious email and it’s clear that it’s a scam.

But for those who may be less familiar with the ways of the Internet, the email might seem legit, like it did to one colleague:

And they might act on it, giving their personal details to suspicious individuals.

Don’t believe us? Just ask the Singapore Police Force, which says that email impersonation scams went up by about 30% last year.

The highest amount lost in a case in 2017 was close to S$5.7 million.

Help your loved ones steer clear of these scams by teaching 3 simple ways to spot an Internet scam.

1. Look out for the domain

A quick search shows that DBS uses as its domain.

Plus, since its name in full is Development Bank of Singapore, it’s unlikely that it would call itself Development Bank of Singapore Bank.

And DBS might have bought over POSB in the 1990s, but they are still separate entities.

So why would DBS notify users of a POSB security update?

2. Beware of suspicious phrasing

The standard phrase used in customer service is “We apologise for any inconvenience caused”.

But it’s good to know that the scammers are at least sorry for trying to phish our details.

And not just sorry – they’re so sorry

3. Look out for typos

Typos, so many typos.

Most companies run their emails through spell checkers, but not POSB Bank Online.

Here are some of the email’s typos – don’t even get us started on choice of words and sentence structure.

Need we say more?

We just hope this article doesn’t teach scammers how to up their game.

Featured Image from MustShareNews.