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6May2021 UOB published it's 1Q21 performance
7May2021 UOB published a Cybersecurity incident report in SGX
https://links.sgx.com/FileOpen/UOB-A2021...eID=665469
A few things that's notable.
1. UOB publish this Cybersecurity incident before it hit the press.
This is rather un-usual as UOB decided to voluntarily release this info.
2. UOB attacker is using a rather common technique - Impersonation Scam.
As reader of VB.com already know, the attacker will just pretend to be a China policeman and request for certain Chinese nationals with Singapore-based accounts details such as:
What is important is to realise that this could happen to any person. But, what is notable is, all these while, the Cyber attacks were focusing on individual account holder. Whereas, this time round, the attacker had successfully penetrated a business - UOB.
Moving forward, we would expect more such announcements (from other businesses) as UOB had already opened the can of worms.
What would be important is the counter measures:
UOB pledge to continue to make every effort to work with affected customers and make every effort to work with them on keeping their accounts safe.
It's definitely no fault of UOB (or UOB staffs) as Cyberattack is rampage and the attackers are getting smarter and smarter everyday.
With the help of open source and increasing volatile economic conditions, Cyberattackers would be more persistent and creative to fish for their preys.
Singapore, being the leading financial center in SEA and Singaporean, being shielded from the impact of economy crisis would be an exciting pond to be fished.
Take care and stay safe, everyone.
7May2021 UOB published a Cybersecurity incident report in SGX
https://links.sgx.com/FileOpen/UOB-A2021...eID=665469
A few things that's notable.
1. UOB publish this Cybersecurity incident before it hit the press.
This is rather un-usual as UOB decided to voluntarily release this info.
2. UOB attacker is using a rather common technique - Impersonation Scam.
As reader of VB.com already know, the attacker will just pretend to be a China policeman and request for certain Chinese nationals with Singapore-based accounts details such as:
- Name
- ID
- Mobile numbers
- Account balances (amount or more or less than a certain sum)
What is important is to realise that this could happen to any person. But, what is notable is, all these while, the Cyber attacks were focusing on individual account holder. Whereas, this time round, the attacker had successfully penetrated a business - UOB.
Moving forward, we would expect more such announcements (from other businesses) as UOB had already opened the can of worms.
What would be important is the counter measures:
- disabling clients internet and mobile banking access;
- advising clients to reset digital access and how to protect from scams;
- monitoring of affected accounts;
- set online funds transfer SMS alert threshold;
- post scam notice on apps and home page; and
- post scam notice on social media channels.
UOB pledge to continue to make every effort to work with affected customers and make every effort to work with them on keeping their accounts safe.
It's definitely no fault of UOB (or UOB staffs) as Cyberattack is rampage and the attackers are getting smarter and smarter everyday.
With the help of open source and increasing volatile economic conditions, Cyberattackers would be more persistent and creative to fish for their preys.
Singapore, being the leading financial center in SEA and Singaporean, being shielded from the impact of economy crisis would be an exciting pond to be fished.
Take care and stay safe, everyone.
cute.