Increasing Number Of Fraud Cases
In the last year, there has been a lot of controversy surrounding the growing number of fraud victims in Singapore. Take, for example, the banking-related phishing scams that took place around Christmas of 2021, leading to a loss of over $8 million.
As the scams grow increasingly elaborate and sophisticated, it is becoming hard even for the most discerning individual to avoid them. While there is only so much you can do as a customer to be wary of a scam, it is also up to companies to reduce the possibility of their customers becoming victims of fraud.
Budget Direct Insurance Ramps Up Its Efforts
As of now, Budget Direct Insurance has yet to see any such phishing cases affect its clientele, as it works to consistently be ahead of potential scammers by staying vigilant.
With a multi-layered defence system, customers with policies from Budget Direct Insurance are rest-assured that their data is secure and safe. Budget Direct Insurance prioritises stringent safeguarding measures to ensure that customers are protected.
How Budget Direct Insurance Protects Its Customers
In one example, Budget Direct Insurance shared that they maintain a strict policy where customers will never be asked to share their credit card details, over the phone with the Customer Care team. In any cases where Budget Direct Insurance requires a payment, it is always carried out securely over a payment gateway.
The customer will be able to input their credit card details without having to share sensitive information with another individual.
Secondly, when customers receive any correspondence from Budget Direct Insurance, any personal identifiable information, such as the NRIC number, are masked. In a further example, only the last 4-digits of the customer’s credit card information are stored or displayed.
When customers require access to their Policy Manager account, this is only done via 2-factor authentication, where a One-Time-Password (OTP) is sent to the mobile registered with them to ensure true authentication. Furthermore, customers are able to access their Policy Manager via their secure SingPass account.
Other Measures You Can Take
There are also further measures that customers can take to avoid becoming victims of fraud, such as:
- Avoid clicking links if you are unsure of its origin
- Always check the source of a website and make sure it is the real deal. For Budget Direct Insurance, their URL is www.budgetdirect.com.sg and their hotline is 6221 2111
- Do not share your sensitive information with others. This includes bank details or OTP
- Report any fraudulent credit/debit card charges to the relevant bank and cancel the card immediately
- When receiving emails or messages, be cautious about attachments, links, or telephone numbers. If in doubt, visit Budget Direct Insurance and contact them directly
- Have a unique password for each online account
- Do not share personal information excessively on social media
Common Scams To Be Aware Of
Finally, the best thing one can do is to be aware of the most common scams that are prevalent.
Commonly, victims receive unsolicited messages or emails from a company with a non-existent issue, and that they need to click on a link within the message in order to resolve said issue. Once a victim clicks the link and inputs their details, they are at the mercy of the scammers.
When in doubt, it is always best to question the veracity of any correspondence received and to contact a representative at an official hotline.