Ms Ow Yuen Wan, UOB's head of information security and technology and operations assurance, notes that when it comes to keeping your account secure, your role as a customer is as important as the security measures and safeguards your bank has put in place.

"You must remain vigilant and protect yourself. Fraudsters are successful when they are able to prey on unsuspecting victims who respond without performing due checks," notes Ms Ow.