Recently, when the billionaire hedge-fund manager Bill Ackman made headlines for militating against the thought crimes of Harvard undergraduates, the coverage disinterred memories of what had previously been Ackman’s most famous moral crusade: his five-year campaign, during the twenty-tens, to short-sell Herbalife, the dietary-supplement company. Herbalife can be politely called a “multilevel-marketing” or “direct-sales” or … Read more
“International collaboration is a critical component of Singapore’s strategy to combat fraud, and we are committed to doing our part – both domestically and on the global stage,” Mrs Teo said, according to a press release from the Ministry of Home Affairs. With the help of other countries, Singapore was able to take down 19 transnational … Read more
The police subsequently established the woman’s identity through follow-up investigations and arrested her on Monday. “Preliminary investigations revealed that she is believed to be involved in other similar reports with losses amounting to more than S$24,000 (US$18,000),” the police said. The woman will be charged on Tuesday with the offence of cheating. If found guilty, … Read more
SINGAPORE: DBS is extending its digiVault protection to all accounts, allowing customers to “lock up” funds in their existing accounts. The feature, launched last November, enables customers to lock their funds digitally in a designated account, from which funds cannot be digitally transferred out. Existing DBS and POSB customers who wish to utilise the digiVault feature … Read more
ANTI-MALWARE MEASURES SPF detailed a series of measures that were implemented last year to combat the spike in Android malware scams. In August, OCBC became the first bank in Singapore to block some customers from using its internet banking and mobile banking app if it detected potentially risky apps downloaded from unofficial portals. The move drew flak … Read more
THE CHOICE BETWEEN ANTI-SCAM SECURITY AND HIGHER INTEREST DBS Multiplier, OCBC 360 and UOB One are what most of us in the personal finance space refer to as “high yield savings accounts”. And as a customer of all three banks, I keep the majority of my funds in each of these three accounts for the … Read more
Meta Platforms could penalize users who fail to label AI-generated audio and visual content posted on its platforms, its top policy executive said on Tuesday. The comments were made by Nick Clegg, the company’s president of global affairs, during an interview with Reuters. Clegg said he felt confident that technology companies could label AI-generated images reliably at … Read more
Another 11 people, including a 15-year-old boy, are assisting in investigations, said the police. Preliminary investigations revealed that they had “unwittingly facilitated the scams” in several ways. Most of them took on job offers on Telegram that asked them to receive money in their bank accounts to buy Razer gift cards. They were also asked to facilitate … Read more
SINGAPORE: Two men aged 21 and 25 have been arrested for their suspected involvement in China officials impersonation scams which involved staged kidnappings, said the police on Saturday (Jan 20). The two victims in the cases lost nearly S$450,000 (US$335,800) to the scams, according to the Singapore Police Force (SPF) in a news release. On … Read more
SINGAPORE: At least 219 DBS customers have fallen prey to scams in the first two weeks of the year, losing about S$446,000 (US$335,000) in total. There has been a surge in cases of SMS phishing scams since December last year, where scammers would impersonate banks or bank staff, said the police and DBS in a joint … Read more
