Hackers pose as S’pore bank customers by stealing OTPs, making S$500K in fake credit card payments

The hackers had hijacked the one-time passwords sent through SMS text messages by banks. — AFP Relaxnews

SINGAPORE: Hackers abroad have been able to pose as 75 bank customers here to make about S$500,000 (RM1.54mil) in fake credit card payments.

This was done by a sophisticated method of hijacking the one-time passwords (OTPs) sent through SMS text messages by banks.