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http://www.reuters.com/article/2012/01/05/dbs-idUSL3E8C5HHC20120105
UPDATE 1-Singapore's DBS says probing unauthorised withdrawals
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Singapore DBS says probing unauthorised withdrawals in Malaysia
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Thu Jan 5, 2012 8:33am EST
(Adds new statement on number of customers affected)
Jan 5 (Reuters) - DBS Group Holdings , Singapore's biggest bank, said on Thursday it is investigating complaints from about 200 customers of unauthorised withdrawals of funds in Malaysia, through the use of the bank's debit and automated teller machine (ATM) cards.
The bank said it immediately de-activated the compromised cards and was taking steps to compensate customers in full.
DBS said in a statement late on Thursday that the average amount withdrawn was about S$1,000 per account. "We are treating the matter with utmost priority and would like to assure customers that they will be fully compensated for any unauthorised withdrawals within 24 hours," Jeremy Soo, head of the bank's consumer banking unit in Singapore, said in a statement.
Separately, state broadcaster ChannelNewsAsia reported that the police are investigating unauthorised withdrawals from DBS accounts and those of its POSB brand.
Cases of unauthorised transactions or fraud are rare in Singapore, which is one of Asia's largest wealth management centre and a regional base for many foreign banks. DBS suffered from network glitches that affected its ATM and internet systems on July 5, 2010. (Reporting by Saeed Azhar; Editing by David Holmes)
UPDATE 1-Singapore's DBS says probing unauthorised withdrawals
Tweet
Share this
Related News
Singapore DBS says probing unauthorised withdrawals in Malaysia
5:55am EST
Analysis & Opinion
Why we shouldn’t guarantee all bank deposits
Why banks make bone-headed decisions
Related Topics
Financials »
Thu Jan 5, 2012 8:33am EST
(Adds new statement on number of customers affected)
Jan 5 (Reuters) - DBS Group Holdings , Singapore's biggest bank, said on Thursday it is investigating complaints from about 200 customers of unauthorised withdrawals of funds in Malaysia, through the use of the bank's debit and automated teller machine (ATM) cards.
The bank said it immediately de-activated the compromised cards and was taking steps to compensate customers in full.
DBS said in a statement late on Thursday that the average amount withdrawn was about S$1,000 per account. "We are treating the matter with utmost priority and would like to assure customers that they will be fully compensated for any unauthorised withdrawals within 24 hours," Jeremy Soo, head of the bank's consumer banking unit in Singapore, said in a statement.
Separately, state broadcaster ChannelNewsAsia reported that the police are investigating unauthorised withdrawals from DBS accounts and those of its POSB brand.
Cases of unauthorised transactions or fraud are rare in Singapore, which is one of Asia's largest wealth management centre and a regional base for many foreign banks. DBS suffered from network glitches that affected its ATM and internet systems on July 5, 2010. (Reporting by Saeed Azhar; Editing by David Holmes)