The Monetary Authority, the Association of Banks and its member banks have launched measures to raise public awareness of phone scams and to further protect bank customers' interests.
The authority and the banks will publicise caller identity verification hotlines on their websites.
Bank representatives will provide their full name and "identifying numbers", like their phone extension number, direct telephone number, or staff ID, when calling customers, allowing customers to verify their identity through the hotlines.
The authority and banks will not ask for any sensitive personal information, including login passwords or one-time passwords, through phone calls or emails.
The authority said people should not provide sensitive personal information to unidentified callers, and not rely simply on the incoming call display to establish a callers’ identity.
