Ocbc Money Lock

Ocbc Money Lock

OCBC Bank to Enhance Account Security

OCBC Bank will progressively roll out new security measures to protect its customers’ accounts.

In light of the recent OCBC phishing scam, the bank has announced that it will be taking additional steps to strengthen its account security measures. These measures will include:

Increased monitoring for suspicious transactions.

Enhanced fraud detection algorithms.

Additional customer education and awareness campaigns.

From 20 February 2023, OCBC will also implement a “cooling-off” period for new PayNow registrations. During this period, customers will be required to wait 24 hours before they can use PayNow to transfer funds to new mobile numbers. Existing registrations are not affected.

Customers are advised to remain vigilant against phishing scams and to take the following precautions:

Never click on links in unsolicited emails or SMS messages.

Do not disclose your personal or banking information to anyone.

Use strong passwords and change them regularly.