Lim Tean: Why Josephine Teo so quiet on OCBC phishing scam?

Singapore — In a Facebook post that resonated with many netizens, lawyer, and opposition leader Lim Tean asked why Ms Josephine Teo has seemingly kept mum on the recent OCBC phishing scam?

Last month, almost 470 OCBC customers were victims of a phishing scam that began with an SMS claiming to have been sent by the bank.

Losses from the scam have totalled at least $8.5 million, with some people having seen their entire life savings lost to the scam.

OCBC announced last week that it would fully reimburse customers who lost their money due to the scam. However, the huge losses because of the scam alarmed many, and concerns over bank security systems have been voiced.

“Why Is Josephine Teo So Quiet On The OCBC Phishing Scam? Isn’t She The Minister Responsible For Cyber-Security?,” wrote Mr Lim on Sunday (Jan 23).

Many netizens may have reacted to Mr Lim’s question since Ms Teo has, after all, been serving as Minister for Communications and Information since May of last year.

She is the Minister-in-charge of cybersecurity and the Smart Nation initiative.

On July 14, 2021, she said that the country would be investing $50 million over the next five years to help build a safe digital environment for people and companies.

In the same month, she told Parliament that while businesses and government systems had not fallen prey to cyberattacks, they should assume that their security systems would be breached at one point or another. 

And on Jan 14, she announced that a new fund for expanding and enriching the cybersecurity community will be launched this month with $90,000 in initiatives. 

“We are now acutely aware that the effects of cyberattacks can spill over to the physical world. Whether it is the shutdown of big supermarket chains or the disruption of healthcare services, the impact is tangible,” Ms Teo said when she talked about the new fund at the Marina Bay Sands Convention Centre during the annual Cyber Security Awards 2021.

But Mr Lim is not the only person looking for answers from Ms Teo.

“Is Josephine Teo still the head of smart nation? What is she doing to prevent OCBC scam again?” wrote one netizen on the hardwarezone.com.sg forum earlier this month.

The minister’s silence on the issue has led to much speculation from commenters online.

One asked why no panel to debate on cybersecurity has been set up.

/TISG

Read also: Netizen: ‘Might as well keep money in milo tin right?’ since analysts say “Customers shouldn’t expect banks to reimburse money lost in scams”

Netizen: ‘Might as well keep money in milo tin right?’ since analysts say “Customers shouldn’t expect banks to reimburse money lost in scams”