OCBC phishing scam: Police say they rushed to take down fake bank websites, trace lost cash | #phishing | #scams

ASP Lim said on Thursday that the priority for officers was to take down the phishing websites. The ongoing investigation into the OCBC scam is being handled by officers from the Criminal Investigation Department (CID).

“Basically for the scammer, it’s very easy, they cast the net (wide),” he said. “So the idea (for us) is to take down the link as fast as possible, and prevent such links from being activated again.”

The other urgent task was to trace the lost cash, he said, pointing out that the money will be routed through several accounts to evade detection.

“Once the funds go to X account, it will definitely go to Y and Z, so there’s also this race to trace it down and try to recover as much as possible,” he added. “Because once the money goes out (of Singapore), it’s usually very challenging to get it back.”

The police have successfully recovered cash that was transferred overseas, but this is not a guarantee, especially as some jurisdictions could require victims to go through complicated and expensive legal processes.

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