Unauthorised withdrawals from DBS/POSB accts (new cases)

last SG · 2012-01-06T03:44:23+00:00

DBS shares will drop till mad tomorrow. Free fall. I will withdrawn my money out from POSB also.

angel7030 SG

Anyway, we are sick of apologises

troublemaker2005 SG

so now no updates?

QX179R SG

Two suspects caught in DBS/POSB ATM fraud

SINGAPORE: Police have arrested two Malaysians for possessing ATM skimming equipment.

The two men, aged 27 and 39, were arrested during an island-wide operation by officers from the Commercial Affairs Department (CAD) to arrest members of a transnational ATM skimming syndicate on Thursday.

The two men, who are on social visit passes, were arrested at a hotel in Geylang.

Among the equipment seized are a customised panel with a pin-hole camera and what's known as a simulated Foreign Device Inhibitor, which is believed to have been fitted with a card skimming device.

Police are investigating whether the two men were involved in the recent spate of card skimming cases involving DBS ATMs in Bugis Street.

Meanwhile, DBS Bank said in a statement on Friday that it has paid about S$1 million in compensation to nearly 700 customers who had fallen victim to the recent ATM card skimming scam.

This is twice the initial amount it reported last week when it said it was expecting to pay S$500,000 to compensate 400 affected customers.

In the statement, the bank said it believes that almost all the affected customers have now been identified.

The bank said the unauthorised ATM withdrawals were contained to transactions in Malaysia on 4 and 5 January, and the number of reports of unauthorised withdrawals made in Malaysia has "tapered off significantly".

DBS said it has intensified checks on all its ATMs and has also started sending SMS alerts to customers who have made overseas ATM transactions above a certain amount.

It added that it will start sending SMS alerts for selective local ATM transactions next week.

DBS said its fraud prevention measures at ATMs include closed circuit TVs, flashing entry points, sculpted translucent card-slots, dynamic lock indicators and mechanisms within the card reader.

It added that the type of security measures it deploys at each ATM depends on factors such as machine type, location and response time.

The bank said it uses a different combination of security measures at different ATM locations at different times.

- CNA/ir

FireIce SG

Published on Jan 14, 2012

Two Malaysian men were charged in court on Saturday morning with possessing a machine and equipment for making false ATM cards used to make unauthorised withdrawals from DBS Bank ATM machines.

The men, Loke Siew Fei, 27, and H'ng Gaik Chin, 39, were arrested on Jan 12 at about 6.45pm at Kim Tian Hotel on Geylang Lorong 22.

They were found with one green, plastic object in the shape of an ATM card slot, a grey, metal panel with a pinhole camera, and USB port, and a laptop.

If found guilty, they can be fined and jailed up to 10 years.

FireIce SG

700 cases is A LOT

somemore in 2 days

imagine hw many ppl the syndicate deployed to press the $

or maybe dont even need to physcially go to the atms to press

probably the central system got hacked and they just wire the money with a few clicks of the mouse remotely

cant help but applaud the technology and efficiency

cant help but spit at DBS for not keeping all the machines safe and not being able to detect the similar transactions done from the backend

troublemaker2005 SG

Published on Jan 14, 2012

Two Malaysian men were charged in court on Saturday morning with possessing a machine and equipment for making false ATM cards used to make unauthorised withdrawals from DBS Bank ATM machines.

The men, Loke Siew Fei, 27, and H'ng Gaik Chin, 39, were arrested on Jan 12 at about 6.45pm at Kim Tian Hotel on Geylang Lorong 22.

They were found with one green, plastic object in the shape of an ATM card slot, a grey, metal panel with a pinhole camera, and USB port, and a laptop.

If found guilty, they can be fined and jailed up to 10 years.

no rotan? should giv them some pamanent tatoo also.

FireIce SG

Published on Jan 14, 2012

DBS Bank said it is rolling out additional security measures ahead of schedule to guard against ATM fraud.

With immediate effect, all DBS or POSB ATM or debit card-holders who have not used their cards outside Singapore since July 1 last year will no longer be able to make cash withdrawals from ATMs overseas unless they enable the function.

And starting on Jan 17, customers who have chosen to enable their cards for overseas use will also receive a real-time SMS alert confirming their request.

All customers who have made overseas withdrawals using their ATM or debit cards on or after July 1 last year, will still be able to continue using their cards outside Singapore. They can also disable the function at any of the bank's ATMs, branches or by calling the DBS contact centre, the bank said. For added protection, they can also choose to lower their daily cash withdrawal limit at any branch.

not too bad tt they are doing something

but are they a step ahead of the frauders?

alize SG

CEO from India correct?? just look at india social politic will tell u a thousand stories...FTalent

The T in FT stands for Trash.

alize SG

These thieves are not stupid.

They might have stolen from other banks before, but found DBS security easier to crack.

mancha SG

FT = Foreign Thieves.

c2-01 SG

Do you think all the money is still with the 2 malaysians and will they be able to recover all the money?

If not it means POSB/DBS lose $1million.

Will that translate to retrechment in POSB/DBS or perhaps pay vut or bonus cut for the existing staffs?

mancha SG

The two Malaysians are part of the gang. They do the first part, skim the card, and then send the information to Malaysia, where the clones are made, and then, the third part is where the runners go out and withdraw money from various ATM in Malaysia.

Looks like the two who are caught won't get their share.

charlize SG

700 cases is A LOT

somemore in 2 days

imagine hw many ppl the syndicate deployed to press the $

or maybe dont even need to physcially go to the atms to press

probably the central system got hacked and they just wire the money with a few clicks of the mouse remotely

cant help but applaud the technology and efficiency

cant help but spit at DBS for not keeping all the machines safe and not being able to detect the similar transactions done from the backend

700 out of 5 million people is still a very small number.

Really.

dragg SG

700 out of 5 million people is still a very small number.

Really.

to prevent it from happening again lets revert to a safer method.

to withdraw money please go to the bank personally with your ic and one of your parents for identification.

LordsWM SG

no pain no gain.. i guess DBS/POSB will get to learn the lesson this time.. more improvements to the security would be good..

Itedino SG

Published on Jan 14, 2012

Two Malaysian men were charged in court on Saturday morning with possessing a machine and equipment for making false ATM cards used to make unauthorised withdrawals from DBS Bank ATM machines.

The men, Loke Siew Fei, 27, and H'ng Gaik Chin, 39, were arrested on Jan 12 at about 6.45pm at Kim Tian Hotel on Geylang Lorong 22.

They were found with one green, plastic object in the shape of an ATM card slot, a grey, metal panel with a pinhole camera, and USB port, and a laptop.

If found guilty, they can be fined and jailed up to 10 years.

Just execute them. Parasite of the society

dragg SG

what is a million to a bank that make a billion a yr. not even 1%.

charlize SG

to prevent it from happening again lets revert to a safer method.

to withdraw money please go to the bank personally with your ic and one of your parents for identification.

Ok.

c2-01 SG

what is a million to a bank that make a billion a yr. not even 1%.

how you know how much money posb makes a year?

After deducting expenses, salaries etc are you sure they still make a billion a year?

FireIce SG

now got OCBC case also.

http://www.tnp.sg/content/unauthorised-withdrawals-wipe-out-salary-one-day

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