SINGAPORE, 14 January 2012 – In light of the recent skimming incident, DBS Bank said today it is fast-tracking the rollout of additional security measures to further guard against unauthorised ATM withdrawals.
These additional new measures are being introduced notwithstanding the recent arrest of two individuals in connection with a skimming syndicate that appears to be operating in Singapore. The initiatives come on the back of other recently introduced measures such as real-time SMS alerts for overseas ATM withdrawals, as the bank believes it is important to move quickly, and step up ATM security measures for customers’ added peace of mind.
At present, all DBS/POSB ATM/ Debit cards can be used both locally and abroad, and customers have the option of blocking the overseas usage of their ATM card at any ATM or by contacting the bank.
For added security, with immediate effect, DBS/POSB ATM/ Debit card-holders who have not used their cards outside Singapore, since 1 July 2011, will not be able to make ATM cash withdrawals overseas unless the bank is otherwise instructed. In other words, this group of customers who historically only used their ATM/ Debit cards locally, will now have to inform the bank should they want to make cash withdrawals overseas. Such customers can easily enable the overseas cash withdrawal function at any DBS/POSB ATM, branch or by calling 1800-220 1111 (Please see appendix for a step-by-step card activation guide).
With effect from Tuesday, 17 January 2012, customers who have chosen to enable their cards for overseas use will also receive a real-time SMS alert confirming their request.
All customers who have made overseas withdrawals using their ATM/ Debit cards at any point in time on or after 1 July 2011 will be able to continue to use their cards outside Singapore. However, they can also choose to block the overseas ATM cash withdrawal function at any DBS/POSB ATM, branch or by calling the DBS contact centre. For added protection, they can also choose to lower their daily cash withdrawal limit at any branch.
These latest security measures come on the heels of other initiatives recently introduced by the bank.
On Thursday, 12 January 2012, DBS commenced sending SMS alerts to customers who have made ATM transactions overseas which are above a certain threshold.
From Monday, 16 January 2012, the bank will commence sending SMS alerts for selective domestic cash withdrawals.
To ensure that DBS is able to reach out to customers and provide them with real-time SMS alerts, customers are encouraged to ensure that the bank has their current mobile phone contact details. Customers can inform the bank of their latest contact details via DBS Internet banking or at the bank’s branches.
On top of these additional security measures, customers are also encouraged to practise the following good banking habits to get the highest level of protection against fraud:
Be Observant - If something about the ATM does not seem or 'feel' right, then stop your transaction and use another ATM. Do not remove any suspicious devices from the ATM, as it may be under surveillance by fraudsters.
ATM PIN Is Your Key - Treat your PIN as the key to all the money in your bank account. Don't reveal it to anyone - not a family member, a bank employee, or any other person. Make it a point to change your pin on a regular basis.
Shield Your PIN - Check the mirror at the ATM, to make sure no one is looking when you enter your PIN. Use your free hand, wallet or purse to shield your keying.
How to enable overseas usage of your DBS/ POSB ATM/ Debit Card
With immediate effect, DBS has blocked the overseas ATM withdrawal function for customers with no recent history of overseas usage.
Such customers can easily enable the overseas cash withdrawal function at any DBS/ POSB ATM by visiting an ATM:
a. Go to second page of the “More Services” Tab
b. Go to “Change ATM Card Overseas Access”
c. Once the function has been enabled, a receipt will be printed
The function can be disabled easily in the same way.
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.