OCBC completes S$13.7mil of goodwill payouts from SMS scams


OCBC started to make goodwill payments on Jan 8, acknowledging at the time that its customer service and response fell short of expectations. — Reuters

Oversea-Chinese Banking Corp said it made S$13.7mil (RM42.30mil) in goodwill payouts to 790 customers who fell prey to an text message phishing scam impersonating the lender.

About 80% of the amount lost occurred during Dec 23-30 festive period, at which time calls to the bank’s contact center surged by over 40%, OCBC said in a statement on Sunday. A previous figure that over 450 customers had been scammed of S$8.5mil (RM26.25mil) was based on police reports made in December, and more victims came forward or were discovered this month, it said.

Subscribe now and stand a chance to win prizes worth over RM40,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.


Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a subscriber? Log In