News @ AsiaOne

400 DBS/POSB customers affected by ATM fraud

DBS said it will compensate affected customers in full within 24 hours. The total amount to be compensated is approximately $500,000. -AsiaOne

Fri, Jan 06, 2012
AsiaOne, my paper

SINGAPORE - Around 400 DBS and POSB customers have been affected by the recent spate of unauthorised ATM withdrawals, in what is believed to be a card skimming fraud operation.

In an update, DBS said it had, by noontime today, contacted all customers whose accounts showed ATM transaction activity in Malaysia over the past few days, to ascertain if the transactions were authentic.

DBS said it will compensate affected customers in full within 24 hours. The total amount to be compensated is approximately $500,000.

"As of today, we are not aware of any new incidences and believe that the situation has been contained," DBS said this afternoon.

DBS will deploy additional staff at its branches and extend operating hours to cope with the current situation. Resources at their call centres will also be increased to handle the additional number of inquiries.

DBS said it is doing its best to alleviate the high traffic on its online and mobile services as well.

Since Wednesday, online forums and social-networking websites like Facebook and Twitter have been abuzz with netizens saying there had been fraudulent withdrawals amounting to hundreds of dollars.

Many also said that they warned their friends and family to check their accounts.

The withdrawals appeared to have taken place in Kuala Lumpur, even though affected account-holders said that their cards had remained in their possession all along.

Many also added that they had not visited Malaysia recently, and could not understand how the criminals had been able to make the withdrawals.

adrianl@sph.com.sg


 
 
 
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