OCBC to make 'full goodwill payouts' to all victims of recent SMS phishing scam

Arrangements with all victims will be made by next week.

Low Jia Ying | January 19, 2022, 04:41 PM

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OCBC said on Jan. 19 that it will make "full goodwill payouts" to all affected customers of the recent SMS phishing scam.

OCBC said more than 100 victims have received the full goodwill payouts so far.

OCBC first announced that they would be paying out affected customers on Jan. 17, but made no mention whether this payout would be the full amount that the victims lost in the scam.

Arrangements to be made with all victims by next week

OCBC said they have been making these payments since Jan. 8, 2022.

Group CEO of OCBC Bank, Helen Wong said: "We seek the understanding and patience of our customers as thorough validation of each case requires time to ensure accuracy. This process is necessary so that every case is fairly and properly treated."

OCBC said that the arrangements will be made with all affected customers by next week for the full goodwill payout.

Apologised for taking more time than expected

Wong said the bank had also proactively reached out to customers who might not be aware that their banking activities were susceptible to the phishing scam.

"This has helped to prevent another 200 and more customers from falling prey to the scam," said Wong.

"We apologise for taking more time than expected to resolve the issues with our customers during this time of distress and anxiety,” she added.

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