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Why DBS blame customer when fraud occurred?
- Thread starter tonychat
- Start date
Heard atms all long queue today.....sinkies checking accounts/withdrawing money
Yes, the queues were so long could have made a living selling 'drinks, drinks, curry puffs, curry puffs". Similar to the 70s at the National Stadium when M'sian state teams visited.
[video=youtube;Vt-k0xr1AzA]http://www.youtube.com/watch?v=Vt-k0xr1AzA[/video]
watch 4:43. superb sleight of hand.
watch 4:43. superb sleight of hand.
Keropok! Nasi Lemak! Drinks!
The 'bermuda triangle' curry puff was best. Add in the chilli sauce, sipeisong.
M
Mdm Tang
Guest
SongSong all the way to Jurong. Hahahahaha...
there is no need to skim a atm card or credit card. Leaked or compromised data on the bank's end, ending up with the fraud syndicate will enable them to be able to replicate a card as well. The media imo, has been told to say that the only way fraudulent withdrawals can be withdrawn is partly the pin being seen by others and sold, this is to save DBS's ass. The pin and other card data which are stored on the magnetic strip is used to match the db which the bank has, and if match then identity is considered verified. That goes to say that bank has all the data which these fraudsters can use to replicate card and can be sold to them by hackers or ppl within the bank who has access. The uphill task is to decrypt these codes given to them as all data would be encrypted. DBS is trying to shift all the blame and not put themselves in a bad light, i believe their data has long been compromised and this case could have been linked to the previous outage as well, just all being kept hush-hush.
Makan type of song-song will not arrive in Jurong. In the earlier example illustrated, the song-song ended once you exit the National Stadium for the walk to the nearest food centre at Beach Rd.
exactly. and all of them seem to have had their money withdrawn from overseas ATM. they should have been more careful in even more third-world-lish countries.
They are making the best out of a bad situation, system kena hacked and data got stolen, fraudsters got hold and duplicate cards to make unathorized withdrawals (hard to imagine only ONE bank got this fraudulent withdrawals problem and over 200 people got their pins saw by fraudsters and cards skimmed at the same time). After the shit exposed, come out and say will compensate in full. If indeed due to users' fault, DBS wont be so willing to compensate, they are doing all these to divert attention away from the real problem (lack of security) and that would really cause a big loss of confidence.
Just because the withdrawals were made in 3rd world countries does not mean that the skimming occurred there. The crooks skimmed cards in Singapore, made duplicates and then crossed the border to Malaysia in order to make the withdrawals.
Only an idiot crook or one that has no other options would conduct both the skimming and the withdrawals in the same country.
M
Mdm Tang
Guest
The sgp stock mkt just
finished trading day.
DBS Bank down 7 cents
today to close at $11.79 per share.
at dwn 7 cents , millions wiped
out just today from this counter .
finished trading day.
DBS Bank down 7 cents
today to close at $11.79 per share.
at dwn 7 cents , millions wiped
out just today from this counter .
M
Mdm Tang
Guest
agreed . spf will got
a sophosicated one on their plate
this time .
i think the crooks want the CEO
to Go ...
they can chose other banks but
why chose DBS of all banks ?
M
Mdm Tang
Guest
Super Crooks !!!
Probably the only Bank in the World to be Robbed
400 times in 1 week :( , why robbed 400 times for S$500k
when you can robbed 1 time for say S$5 M ???
DBS/POSB should beef up ATM security, say customers
By Nurul Syuhaida | Posted: 07 January 2012 1523 hrs
SINGAPORE: Most Singaporeans Channel NewsAsia spoke to said they will continue to use ATMs despite the latest fraud which hit 400 POSB and DBS customers this week.
However, they said they expect the bank to beef up ATM security to prevent a similar incident in the future.
Two ATMs in Bugis Street were compromised over a three-day period in late November last year.
It's believed that customers' card details were stolen and copied onto fake cards, which were then used to withdraw cash amounting to some S$500,000 in Malaysia.
On Friday, DBS said the two machines are back in operation after an islandwide check on its ATMs.
Customers said they are not bothered by the fact that the machines had been compromised.
"It's not an issue of the ATMs, it's the control behind it," said one customer.
Experts have advised bank customers to observe signs of tampering on the ATMs, such as unusual installations or fixtures, before making cash withdrawals.
But most people Channel NewsAsia spoke to are clueless on what to look out for.
Some customers were not even aware that there are anti-skimming devices installed on the ATMs.
DBS has advised customers to change their PIN frequently, but this idea wasn't well received.
"Change the PIN number? But I'm afraid I can't remember the number," said one customer.
"Everyone has so many numbers to remember, so many passwords to remember. I think it's difficult," said another.
Some suggested that the bank could beef up its ATM security with additional features, such as fingerprint identification.
Others suggested that customers can protect their money by transferring cash from savings accounts into fixed deposit accounts.
Most people said ultimately, it's the bank's responsibility to safeguard customers' money, and they want banks to step up security measures to prevent similar incidents from happening again.
- CNA/cc
Probably the only Bank in the World to be Robbed
400 times in 1 week :( , why robbed 400 times for S$500k
when you can robbed 1 time for say S$5 M ???
DBS/POSB should beef up ATM security, say customers
By Nurul Syuhaida | Posted: 07 January 2012 1523 hrs
SINGAPORE: Most Singaporeans Channel NewsAsia spoke to said they will continue to use ATMs despite the latest fraud which hit 400 POSB and DBS customers this week.
However, they said they expect the bank to beef up ATM security to prevent a similar incident in the future.
Two ATMs in Bugis Street were compromised over a three-day period in late November last year.
It's believed that customers' card details were stolen and copied onto fake cards, which were then used to withdraw cash amounting to some S$500,000 in Malaysia.
On Friday, DBS said the two machines are back in operation after an islandwide check on its ATMs.
Customers said they are not bothered by the fact that the machines had been compromised.
"It's not an issue of the ATMs, it's the control behind it," said one customer.
Experts have advised bank customers to observe signs of tampering on the ATMs, such as unusual installations or fixtures, before making cash withdrawals.
But most people Channel NewsAsia spoke to are clueless on what to look out for.
Some customers were not even aware that there are anti-skimming devices installed on the ATMs.
DBS has advised customers to change their PIN frequently, but this idea wasn't well received.
"Change the PIN number? But I'm afraid I can't remember the number," said one customer.
"Everyone has so many numbers to remember, so many passwords to remember. I think it's difficult," said another.
Some suggested that the bank could beef up its ATM security with additional features, such as fingerprint identification.
Others suggested that customers can protect their money by transferring cash from savings accounts into fixed deposit accounts.
Most people said ultimately, it's the bank's responsibility to safeguard customers' money, and they want banks to step up security measures to prevent similar incidents from happening again.
- CNA/cc
M
Mdm Tang
Guest
.
http://news.asiaone.com/News/Latest+News/Singapore/Story/A1Story20120109-320636.html
Shanmugam: Concerns over ATM fraud valid
By Reico Wong
my paper
Monday, Jan 09, 2012
Consumers' concerns over the fraudulent DBS and POSB ATM withdrawals last week are "legitimate" and "valid", said Foreign Affairs and Law Minister K. Shanmugam yesterday morning.
He added that the banks will have to take active steps to rebuild customers' trust. "I think the banks will have to assure the customers that it is safe and what steps they have to take to keep it safe."
The Monetary Authority of Singapore has to work with the banks on this as well, Mr Shanmugan told Shin Min Daily News on the sidelines of a consti- tuency event in Yishun.
About 400 customers have been affected in the ATM fraud, with about $500,000 stolen from their accounts.
The local bank has said that it will fully compensate affected customer within 24 hours.
While investigations are under way, DBS said last Friday evening that increasing evidence pointed to the unauthorised with- drawals as being part of a card-skimming operation.
At a separate event yesterday afternoon, Mr Shanmugam reminded Singaporeans that they can make useful contribu- tions to society, no matter how modest their financial circumstances.
He was guest of honour at a fund-raising event for the underprivileged elderly, organised by Singapore Power with Riders Aid, a community group made up of 1,000 motorcycle enthusiasts in Singapore.
To spread the festive cheer to them, eight seniors from voluntary welfare organisation Swami Home Help Service also had the opportunity to go for a spin on some of the biggest motorcycles on the road, including Harley Davidsons and Honda Goldwings.
http://news.asiaone.com/News/Latest+News/Singapore/Story/A1Story20120109-320636.html
Shanmugam: Concerns over ATM fraud valid
By Reico Wong
my paper
Monday, Jan 09, 2012
Consumers' concerns over the fraudulent DBS and POSB ATM withdrawals last week are "legitimate" and "valid", said Foreign Affairs and Law Minister K. Shanmugam yesterday morning.
He added that the banks will have to take active steps to rebuild customers' trust. "I think the banks will have to assure the customers that it is safe and what steps they have to take to keep it safe."
The Monetary Authority of Singapore has to work with the banks on this as well, Mr Shanmugan told Shin Min Daily News on the sidelines of a consti- tuency event in Yishun.
About 400 customers have been affected in the ATM fraud, with about $500,000 stolen from their accounts.
The local bank has said that it will fully compensate affected customer within 24 hours.
While investigations are under way, DBS said last Friday evening that increasing evidence pointed to the unauthorised with- drawals as being part of a card-skimming operation.
At a separate event yesterday afternoon, Mr Shanmugam reminded Singaporeans that they can make useful contribu- tions to society, no matter how modest their financial circumstances.
He was guest of honour at a fund-raising event for the underprivileged elderly, organised by Singapore Power with Riders Aid, a community group made up of 1,000 motorcycle enthusiasts in Singapore.
To spread the festive cheer to them, eight seniors from voluntary welfare organisation Swami Home Help Service also had the opportunity to go for a spin on some of the biggest motorcycles on the road, including Harley Davidsons and Honda Goldwings.
M
Mdm Tang
Guest
.
http://sg.news.yahoo.com/blogs/singaporescene/atm-fraud-hits-dbs-again-145650408.html
.
ATM fraud hits DBS again, S$23,000 stolen
By kaifong | SingaporeScene – 8 hours
....
DBS was riddled yet again with a second round of fraudulent withdrawals. (AP file photo)
DBS has been hit by another round of unauthorised ATM withdrawals with S$23,000 stolen from 17 accounts last Sunday night.
All affected customers were fully compensated within 24 hours.
In a statement released on Thursday, DBS said it received calls from a handful of customers who were alerted to unauthorised ATM withdrawals in Singapore after receiving real-time SMS alerts from the bank.
The bank added that the incident was not a result of any new skimming activity but a residual effect of the same card skimming operation that took place at the end of last year.
No other unauthorised withdrawals have been made over the past few days, DBS confirmed, before adding that it is currently working closely with the authorities on the investigation.
After identifying another group of customers who were potentially at risk, the bank deactivated their cards and took immediate steps to replace them. These customers were informed on the same day and new ATM and debit cards have since been issued to them.
On Monday, Yahoo! Singapore reported that several DBS customers were left shocked and stranded without cash after the bank deactivated their ATM and debit cards without prior notice.
However, it is unknown at press time if the bank's move was part of its security measures in relation to the recent occurrences of unauthorised withdrawals.
All DBS and POSB customers are encouraged to ensure that the bank has records of their current mobile phone contact details in order to facilitate the receipt of real-time SMS alerts, or other forms of customer communications.
Customers can also choose to lower their daily ATM cash withdrawal limit at any branch and the bank strongly encourages its customers to refresh their PINs on a frequent basis for added protection.
Related articles:
DBS chief apologises for ATM fraud incident
DBS moves to implement security measures
http://sg.news.yahoo.com/blogs/singaporescene/atm-fraud-hits-dbs-again-145650408.html
.
ATM fraud hits DBS again, S$23,000 stolen
By kaifong | SingaporeScene – 8 hours
....
DBS was riddled yet again with a second round of fraudulent withdrawals. (AP file photo)
DBS has been hit by another round of unauthorised ATM withdrawals with S$23,000 stolen from 17 accounts last Sunday night.
All affected customers were fully compensated within 24 hours.
In a statement released on Thursday, DBS said it received calls from a handful of customers who were alerted to unauthorised ATM withdrawals in Singapore after receiving real-time SMS alerts from the bank.
The bank added that the incident was not a result of any new skimming activity but a residual effect of the same card skimming operation that took place at the end of last year.
No other unauthorised withdrawals have been made over the past few days, DBS confirmed, before adding that it is currently working closely with the authorities on the investigation.
After identifying another group of customers who were potentially at risk, the bank deactivated their cards and took immediate steps to replace them. These customers were informed on the same day and new ATM and debit cards have since been issued to them.
On Monday, Yahoo! Singapore reported that several DBS customers were left shocked and stranded without cash after the bank deactivated their ATM and debit cards without prior notice.
However, it is unknown at press time if the bank's move was part of its security measures in relation to the recent occurrences of unauthorised withdrawals.
All DBS and POSB customers are encouraged to ensure that the bank has records of their current mobile phone contact details in order to facilitate the receipt of real-time SMS alerts, or other forms of customer communications.
Customers can also choose to lower their daily ATM cash withdrawal limit at any branch and the bank strongly encourages its customers to refresh their PINs on a frequent basis for added protection.
Related articles:
DBS chief apologises for ATM fraud incident
DBS moves to implement security measures
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