TR EMERITUS

I consider the recent successful scams where hundreds of OCBC customers lost their money as a development of unprescedented scale. A major warning has sounded except that, I suspect, too many suckerporeans still do not realise, appreciate and understand enough what has hit us, that it could also happen to their hard-earned monies... 

The great story in this early part of the year is a story of a young couple who got scammed out of a huge of money in a “phishing scam,” that was targeted at the Oversea-Chinese Banking Corporation’s (OCBC) customers. There was something of a kuffle over the liability of the bank and the end of result was the fact that... 

OCBC bank decided to provide "goodwill payments" to compensate their customers fully for the sums that were fraudulently transferred from their accounts which have been breached. Earlier, I had suggested that the bank should share the loss equally with their customers, i.e. the compensation should be for 50% of the amount lost. While...