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OCBC completes arrangements for full payouts to all 790 SMS phishing victims; S$13.7m in losses
The bank decided to make the full payout as a "one-off gesture of goodwill" given the circumstances of this scam.
"We also took into consideration that our customer service and response fell short of our own expectations, that could have affected loss mitigation in some of the cases," it said.
OCBC began releasing payouts to affected customers since Jan 8.
