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DBS INVESTIGATES UNAUTHORISED WITHDRAWALS MADE ON ATM/DEBIT CARDS

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Validating recent ATM/Debit card transactions made in Malaysia, will compensate affected customers in full

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SINGAPORE, 05 January 2012 - Yesterday, some customers informed the bank of unauthorised withdrawals made in Malaysia through their DBS/POSB ATM/Debit cards. Their compromised cards were immediately de-activated and we are now taking steps to compensate these customers in full.
 
Any customer who believes their ATM/Debit card(s) may have been compromised, should contact the bank immediately on 1800-220 1111 or visit any DBS/POSB branch. We are treating the matter with utmost priority and would like to assure customers that they will be fully compensated, for any fraudulent transactions, within 24 hours of notifying the bank.

Investigations are currently underway and we have started to proactively contact all customers whose account transaction history indicates that there has been an ATM transaction made in Malaysia, over the past few days, to double check and confirm that indeed such an ATM transaction was made. 

As an added precaution, we will also deactivate all these cards and issue replacement cards. We will provide these customers with a choice of getting a replacement card on the spot at any of our DBS/POSB branches or by having the new card mailed to them.

 

Update 2 (as at 8.20pm, 5 January 2011)

 

As at 8pm, about 200 customers have informed the bank of unauthorized withdrawals made from their ATM / debit card accounts. The average amount withdrawn was about S$1,000 per account.  (The bank’s standard ATM/Debit card withdrawal limit is S$2,000 per day).

 

 
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for three consecutive years, in 2009, 2010 and 2011.
 
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS also understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
 
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 18,000 staff, representing over 30 nationalities.  For more information, please visit www.dbs.com.

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