Scam emails

Over the past few days, I've received a number of emails from financial institutions informing me to be aware of scam emails purportedly issued by banks. So here you are: emails received from CIMB Bank, Standard Chartered Bank and Public Bank.

One of the first messages came from CIMB Bank. It started off by saying: CIMB will never call you to request for your banking or personal details. If in doubt, call the number at the back of your CIMB card or refer to CIMB website "Contact Us" page. 

There is a link to more security tips:

Do NOT respond to any SMS/phone calls

1. Do not respond to SMS or call from unknown person asking for your credit/debit card or online banking details.
2. Do not respond to any SMS or call that claiming it's coming from Bank Negara. Their officer will never call you to ask for your credit/debit card or banking particulars.
3. If someone claiming to be from your card service provider calls you and asks you to confirm the security numbers on the back of the card (the last three digits on the back of the card), you should end the call immediately.

What you have to do

1. If you're unsure, ask for a reference number and call back on a trusted number (i.e phone book) to confirm if the call was genuine.
2. Watch out for poor grammar in the SMS.
3. Check your transactions regularly.
4. Change your password periodically.
5. Safeguard your personal information.

Standard Chartered Bank took a different approach. Here is their email message:

Dear Valued Client,

Everyone loves a bargain, but the internet is an easy place for scammers to hide.

They may pretend to be 'sellers' and persuade you to make a purchase. Or pressurise you into paying them via bank transfer to their account. Once they get the money they disappear.

Here are some signs that a 'deal' could be too good to be true:

• Rock-bottom prices with a small window of opportunity
• Scammers hook you in with low prices and a short time frame, to make you take action quickly, for fear of missing out.
• No reviews or consistently negative feedback
• See what other purchasers think, and make sure to read the reviews, including negative ones.
• Requests to transfer money directly into the seller's bank account
• Always use secure modes of payment to protect yourself (and your money).

Here are some ways to help you stay safe when purchasing online:

• Shop on websites or online stores with enough information about refund policies, terms and conditions or contact details. 
• Look for sellers with high ratings and good reviews. 
• Only make payment through a secure payment service (look for the padlock icon displayed in the url). 
• Never provide your payment card details to the seller directly. 
• Avoid engaging with sellers in messaging apps where they may provide 'evidence' of identity to lure you into the deal. 
• Don't share more information than needed, always limit to your billing and shipping information.

If you suspect you've been a victim of an online purchase scam, report it to the authorities right away. For more fraud prevention tips, visit sc.com/fightingfraud/myaccount.

And then there was this email from Public Bank. Here is their message:

Spotted an amazing offer online that seems too good to be true? Be careful to not act on it too hastily as there may be a scam waiting for unsuspecting victims like you.

Warning Signs

• The offer or product is advertised at an unbelievably low price, or to have amazing benefits or features that sounds too good to be true.
• The seller requires immediate payment or forces you to pay via an unknown third party platform or website.
• The seller profile is brand new and has no product reviews.

Additional Warning!

Some sellers will require you download their app in order to claim a special discount or an exclusive product. Be wary! These apps are not downloaded via official app stores such as Google Play/Apple App Store and are most likely malware designed to steal your online banking and credit card information.

How to Avoid

1. Only purchase products from reputable shopping platforms.
2. Ensure that the online shopping platform has a refund or returns policy.Always do your research on the seller before committing to the purchase.
3. Check for seller or product reviews, make sure the reviews are relevant to the product they are selling.
4. Never make any payments via unverified third party apps or websites.

For more information on how to protect yourself online, visit our online security microsite.