The number of daily active users of Weixin Mini Programs, which give users instant access to enterprise services, exceeded 450 million as of the end of 2021 in the run-up to its 5th anniversary on January 9. Weixin, Tencent’s popular social platform in China, saw steady growth in user activities across its in-app features last year, the company said at its annual flagship event for business partners and developers, Weixin Open Class PRO 2022, on Thursday. "The best way to avoid falling prey to these is still awareness, and the accompanying scepticism.Weixin releases social impacts that the platform made last year at the Weixin Open Class PRO 2022 "Quite unfortunately, with regard to such message scams, there is only so much technology can do (to protect consumers)," he said. He also said there is a limit to how much a consumer can be protected, and that consumers need to be aware and protect themselves. "Once the victim unwittingly responds by entering the bank account credentials, the hackers' technologies can divert and capture a copy of the SMS OTP issued by the bank," he said. He added that even if victims did not provide their one-time passwords (OTPs), they would have sealed their fate when they entered other bank details on the fraudulent sites. "While the attack may have been particularly aggressive, it is OCBC's duty to their customers to be ready for this," they said.Ĭyber security expert Anthony Lim, who is also a fellow at the Singapore University of Social Sciences, said scammers have advanced software enabling them to spoof telecommunications services and send SMSes that appear in the same threads used by real organisations. Mr Celio added that OCBC's banking systems remain safe and secure and have not been hacked.Ī group of victims issued a statement to ST, alleging that the bank had not responded fast enough, failed to ensure the security of its SMS channel, and that remediation for customers was lacking. It is able to identify what device its banking services are accessed from. It also implemented its anti-financial malware system in 2019. OCBC launched its fraud surveillance system in 2016, and uses machine learning to assist in detecting and immediately flagging fraudulent transactions, which are then reviewed by a fraud analyst. The bank said it has since halted its plans to phase out physical hardware tokens by the end of March this year, and has also stopped sending SMSes with links in them in the light of the spate of phishing incidents. "It is particularly aggressive and highly sophisticated in duping consumers into disclosing their personal banking details despite repeated bank warnings to be alert and not to do so." "The recent SMS phishing scam impersonated OCBC and preyed on the fears of consumers about their personal bank accounts," he said. Responding to queries from ST, Mr Francisco Celio, head of group corporate security at OCBC, said it has been assisting those affected. how would I have known?"Įight victims have contacted ST to share their frustration. "I didn't know there was a scam going around. "It's a horrible situation that impacts my whole life," he said. The father of a young child with special needs said the loss has been devastating, and he has been hiding it from his family. A 38-year-old software engineer who fell prey to the same scam on Dec 28 told ST that he lost about $250,000 he had been saving since 2010.
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