DBS chief apologises for ATM fraud incident

Is MAS or DBS/POSB aware how did the incident happen? I did not see any explanation. Seems like they have no clue at all which is very serious.

1. If someone tempered with their ATM, they would have captured something on their security camera.

2. If the cards were copied in some retail store, why only happen to DBS/POSB and not UOB and OCBC?

3. The PIN is not stored on the card, someone can installed a CAM to captured a person keying in the PIN and secretly duplicating the card. You suggest to use SMS/Chip to replace magnetic strap while it is a good move, how can you explain why it did not happen to UOB and OCBC? You mean the crook is so picky and only want to target DBS/POSB?

4. No insider job? Really? Hope it is true and also not loop hole in your banking system.

Since your anti skimming devices have been breached, the whole of Singapore DBS ATM machines are EXPOSED and waiting to be ROB ?

Ok lah! I forgive you for being so brave in owning up to the mistakes and making good my losses. This really boost my confident in the bank. unlike some organisation

We seem to be having major problems nowadays in Singapore. What's going on???

This type of cases happened in Malaysia before, they were even published in the newspapers. I wonder why the government didn't even notice and prevent it. It shows that the government only spent tons of monies to prevent terrorists attack, It's all make believe to justify the pay of so many high ranking police and army personnel.

Who would need to bomb our installations when even a captured prisoner can easily escape?
Talk about civil defence and total defence yet don't even know what to do in the disruption in our daily routine like the breakdown in SMRT!

thanks for the apologies....so what is the contingency plan? can i propose one? besides pin number can we can add in an Option for finger print? meaning every ATM will hv a finger print scanner installed....

I think 50% of skimming monies can be trace back from the 2 casinos!
Trace the Bugis ATM machine of suspicious character and check with the casino CCTV.

You know of this issue in other countries as DBS had claimed earlier, but you never heard of lessons learnt ? Did you flag the ISSUE TO MAS ?

I do not think the apology comes at the right time as the incident is still under investigation. Wonder why there are lots of people apologise ever since the GE? There is a Chinese idioms that says 惊弓之鸟 (jing gong zhi niao - a bird startled by the mere twang of a bowstring - a man who had been frightened previously will became scared by a new thing of the same nature.). So, does this applies?

apology is not enough, investigate how it was done by the crooks... your bank's public trust-level is all time low... we are looking for other banks now.

Why everything singapore going wrong? Why not citibank,hsbc,uob,maybank,etc etc -karma.
Looks like the elite all too complacent and comfortable.Must resign apologies cannot be accepted BECAUSE THERE WAS A LONG TRAIL AND PATTERN. Why No expert team in place to monitor such patterned withdrawals, no excuse really.If its a one time job hit and run can say never saw it coming but this cannot be accepted. Singapore name tarnish again. And yes POSB, DBS ATMS are the worst everytime break down i complain so many time year in year out until tired. And they always apologise and a week later it breaks down again. AND NOW SERCURITY BREACH. A new ceo will always get everything back to top gear again..Please resign.

DBS service in the past was much much better. Just look at the CAM machines. They kept breaking down causing much inconvenience to depositors. Especially the one in Bedok South Blk 61. It does not allow printing and this occurs consistently. This week, it has been down for a few days now. DBS pays super low interest so no incentives for depositors.

Can i tell my boss " it could happen in any bank" excuse ?

We are the only country in the world that needs to pay $ milllions to hire a FT to run our National Bank.....and he is not even able to look after our ATMs !!!!!

So the lies have been exposed - the problem was not contained and restricted to 400 customers and not $500,000 but double the amount $1 million was stolen affecting 700 customers. Cases tapering off - which means it has not stopped completely yet. The news blackout was needed to prevent DBS from runs of panic closure of accounts and runs on the bank. I never trust their reassurances anyway

DBS is not you average " any other bank ". Just like SIA is not your average airline! Both will continue to uphold or destroy the Frist World Reputation of Brand Singapore. We expect DBS to be a premium bank. There should ne zero tolerance for mistakes of this kind. Are years of complacency and high pay making the managements of high profile companies, such as SMRT and now DBS, INCOMPETENT AND IRRESPONSIBLE ?

"sorry" or "apologies" is that all can be said and it sounds so common and so commonly used!

He ought to be sacked for giving us lip service after knowing that such method of fraud exist in other parts of the world

Please, please, ensure our $$$ with the bank is secure. Jumping on the apologies bandwagon won't solve problems or absolve one's responsibility. Depositors get next to nothing for putting their hard earned $$$ into banks who make $Billions! Be responsible.

We need a CEO with fairness, a heart, conscience to proactively take good care of the funds for the bank's valuable clients and all accounts, big and small, not only lip service.