Sounds too good to be true? It could be a scam

Keep these anti-fraud tips in mind. Do not let scammers lure you into their traps Came across an advertisement that offered an unbelievably good deal? Did a job offer – promising lucrative commissions – suddenly fall into your lap? If something sounds too good to be true, it likely is. Learn to identify the tricks used by scammers. Join us and the National Crime Prevention Council (NCPC) to ACT Against Scams by remembering three simple steps: Add, Check, Tell. COMMON THREATS Here are two types of scams that aim to expose your vulnerabilities.     Investment scams How scammers may approach you: Individuals claiming to represent stockbrokers, banks or financial companies may approach you with unsolicited investment opportunities. They may promise quick money and/or extraordinary returns at little to no risk. Such scammers often offer time-limited deals and gifts, or rebates, to pressure you into acting quickly. They may – in attempts to persuade you to invest in their bogus opportunities – repeatedly send you messages via social media or messaging apps.   Watch out for these tactics: • If you express interest in the investment, the scammer will ask you to give them your personal information/bank account details, and/or install a fake investment app. They will claim that you need to do so to open an investment account. • You may be asked to visit professional-looking websites – complete with fake client testimonials and case studies used to support the scammer's false claims. • The scammer may ask you to send money to a non-business account, supposedly to pay an 'initial fee' and for the investment. Later, when you try to withdraw your returns or initial investment amount, you may realise that the scammer has disappeared with your money.     Job scams How scammers may approach you: Scammers may approach you with unsolicited offers that promise low-effort, high-paying jobs; or 'guaranteed' ways of generating fast income. If you do express interest, they will try to get you to hand over your money, personal information and/or bank account details, which they then use to commit fraud and theft.   Watch out for these tactics: • You receive, via messaging apps, unsolicited messages offering part-time job opportunities from seemingly legitimate companies or recruiters. These messages are typically sent from an unknown or unverifiable number. • You are added to a group chat where multiple people – possibly the scammer(s) using multiple accounts – share fake testimonials to drum up interest in the job opportunity. • You are directed to a website/app and asked to enter your personal information/banking details to access a job opportunity. Any details you enter may be stolen to commit fraud. • Scammers may offer you a commission for performing simple tasks – reviewing restaurants or completing simple surveys, for example – through messaging platforms like WhatsApp or Telegram. To gain your trust, they may initially pay you a small commission for each task you do. However, they will eventually ask you to send them increasingly large sums of money to continue accessing the tasks. They will then vanish with the cash.   Learn more about these threats:   'CHECK' WITH OCBC AND NCPC Adopt these security measures to safeguard your online experience. Only download apps from official stores like the App Store (for iOS) or Google Play Store (for Android) and review the permissions that are requested. Make sure they are genuinely necessary. Keep your devices secure and up to date by enabling automatic updates and installing anti-virus software on your phone, computer and other devices with Internet access. Always check that the websites you browse are official ones. Do not let your web browser or devices store your login credentials. Conduct your investment dealings exclusively with companies licensed by the Monetary Authority of Singapore (MAS). Always do a thorough check on companies and their representatives using resources such as the Financial Institutions Directory, Register of Representatives or Investor Alert List (available on the MAS website). If a company is based outside of Singapore, check if it is licensed with the relevant overseas authority. Never give out your Online Banking login credentials, card details or One-Time Passwords (OTPs) to anyone. Do not transfer money to or agree to receive money from people you do not know. Be responsible for all transactions made using your account(s) and do not let third parties use your account(s) to make transactions. Stay ALERT Quickly detect and respond to any fraudulent activities. Set up e-alerts to receive timely notifications regarding your account(s) and banking activities via the OCBC Digital app. You will also receive e-alerts on the latest scams as well as expert advice on how to spot and stop them. ALWAYS REMEMBER TO 'ACT' Add Install security tools like antivirus software to be better protected online. Check Look out for potential scam signs by verifying information with trusted sources. Tell If you encounter any scams, inform the authorities and let others know promptly.   Learn more about ACT:   Important Information This email contains a URL that redirects to a third-party website. By accessing any such websites, you agree to our terms of use which you can find at the OCBC website > Personal Banking > Conditions of Access. Any opinions or views of third parties expressed in this material are those of the third parties identified, and not those of OCBC Bank. The information provided herein is intended for general circulation only. No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein. Do allow us to warn you against phishing attempts involving emails or SMSes that claim to be from OCBC. We will not send you any emails or SMSes with links. Enter your log in credentials (Access Code, PIN or One-Time Password) only into the OCBC Digital or OCBC Pay Anyone™ app, or after accessing the OCBC website (always type out the URL to do this). If you believe you have fallen prey to a scam, please visit any OCBC branch. Alternatively, call our Personal Banking hotline: OCBC website > Contact us, then press 8 to report the scam. If you are in the queue to be served by a Customer Service Executive, you may choose to activate our emergency kill switch – also available via the OCBC Digital App and at selected OCBC ATMs – to protect your account(s). © Copyright 2023 – OCBC Bank | All Rights Reserved. Co. Reg. No.: 193200032W