OCBC capital limits raised over flawed response to SMS phishing scams

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of approximately S$330 million on OCBC Bank (OCBC), over deficiencies in the bank’s response to a wave of spoofed SMS phishing scams in December 2021.

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Stay On Top Of The Debt Relief Industry's Regulatory Landscape

On November 6-7, 2022, Shipkevich PLLC will be hosting a Regulatory Workshop in Costa Mesa, California focusing on the fundamental regulatory issues facing debt relief professionals and how they can adapt.