DBS moves to implement security measures
DBS bank has rolled out immediate security measures which include blocking customers’ access from making overseas withdrawals to prevent fraudulent ATM withdrawals, according to local media reports.
The bank said in a statement on Saturday that these new measures come on the back of recently introduced initiatives and the need to secure confidence among customers, reported Channel NewsAsia (CNA).
It is also making this move notwithstanding the arrest of the two men in connection with a skimming syndicate.
On Saturday, two Malaysian men were charged in court for possessing card skimming equipment to produce fake ATM cards to allegedly make unauthorised transactions from DBS ATM machines.
Currently, customers can block the overseas usage of their DBS and POSB ATM and debit cards at any ATM machines or by informing the bank.
But with its new security policy to take effect immediately, customers who have not used their cards outside Singapore since 1 July last year will not be able to make withdrawals overseas unless they informed the bank, according to CNA.
However, those who have made overseas withdrawals on or after July last year can continue using their cards outside Singapore and will still have the option to block overseas withdrawal at ATM machines and branches or through the DBS contact centre.
If customers decide to enable their cards for overseas use, they will also get a real-time SMS alert confirming their request. This service will be in place from Tuesday onwards. They also have the option to lower their daily cash withdrawal limit at any branch, said CNA.
The new security measures come after DBS on Thursday, implemented a service which sends out SMS alerts to customers who have made overseas withdrawals above a certain threshold.
DBS said it has also intensified checks on all its ATM machines and will start sending SMS alerts for selective local ATM transactions from Monday.
