Published on Jan 11, 2012
DBS Group Holdings chief executive Piyush Gupta has apologised to
customers for the inconvenience caused by the recent automated
teller machine (ATM) scam.
In his first public comments on the incident which saw about 400
customers affected and $500,000 stolen from DBS and POSB bank
accounts by fraudsters in Malaysia, Mr Gupta said the unauthorised
ATM withdrawals were done through a card skimming scheme by a
syndicate, that can happen to any bank.
He was speaking at the DBS private bank luncheon at Shangri-La
Hotel on Wednesday. He said DBS will start offering SMS alerts for
withdrawals from customer bank accounts above a certain threshold
to enhance security for customers.
'The world of hackers and crooks out there is getting smarter
everyday,' he said. 'It is incumbent on us as your bank to stay
ahead of them.'
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_754263.html