HKMA Alerts Public on Fraudulent App Linked to Bank of Singapore

The
Hong
Kong
Monetary
Authority
(HKMA)
has
issued
a
warning
to
the
public
regarding
a
fraudulent
mobile
application
linked
to
Bank
of
Singapore
Limited.
According
to
the
HKMA,
the
fake
app
has
been
reported
to
the
regulatory
body,
prompting
an
immediate
alert
to
safeguard
consumers.

Details
of
the
Fraudulent
App

The
HKMA
highlighted
that
the
fraudulent
app
mimics
legitimate
banking
applications,
potentially
deceiving
users
into
sharing
sensitive
personal
information.
The
official
press
release
from
Bank
of
Singapore
Limited,
which
addresses
this
fraudulent
app,
can
be
accessed
through
the

HKMA
website.

Public
Advisory

The
HKMA
has
reiterated
that
legitimate
banks
will
not
send
SMS
or
emails
containing
embedded
hyperlinks
directing
customers
to
their
websites
for
transactions.
Furthermore,
banks
will
never
request
sensitive
personal
information,
such
as
login
passwords
or
One-Time
Passwords
(OTPs),
via
phone
calls,
emails,
or
SMS,
including
through
hyperlinks.

Individuals
who
have
inadvertently
provided
personal
information
or
conducted
financial
transactions
via
the
fraudulent
app
are
urged
to
immediately
contact
their
bank
using
the
official
contact
details
provided
in
the
press
release.
Additionally,
they
should
report
the
incident
to
the
Police
by
contacting
the
Crime
Wing
Information
Centre
of
the
Hong
Kong
Police
Force
at
2860
5012.

Preventive
Measures

In
light
of
this
incident,
the
HKMA
advises
the
public
to
remain
vigilant
against
phishing
attempts
and
other
forms
of
online
fraud.
Consumers
are
encouraged
to
verify
the
authenticity
of
any
communication
received
from
their
banks
and
to
avoid
downloading
apps
from
unverified
sources.

The
HKMA
continues
to
work
closely
with
financial
institutions
and
law
enforcement
agencies
to
mitigate
the
risks
posed
by
fraudulent
activities
and
to
protect
the
interests
of
consumers.

Hong
Kong
Monetary
Authority
9
August
2024

Image
source:
Shutterstock