dbs bank report fraud and online security tips

As a bank customer, it's essential to be aware of the common types of fraud that can affect your accounts. Phishing scams, for instance, are a significant threat, with scammers using fake emails or messages to trick victims into revealing sensitive information.

To protect yourself from phishing scams, never click on suspicious links or provide personal details in response to unsolicited emails. This simple rule can save you from falling prey to these types of scams.

DBS Bank takes the security of its customers' accounts seriously, with robust measures in place to detect and prevent fraudulent activities. Their system can flag suspicious transactions and alert the bank's security team to take action.

By staying vigilant and reporting any suspicious activity to DBS Bank promptly, you can minimize the risk of falling victim to fraud.

DBS Bank has been hit by a surge in cases of SMS phishing scams since December last year, with at least 219 customers losing about S$446,000 in total.

The scammers impersonate DBS or POSB bank, sending unsolicited SMSes bearing short codes, overseas numbers, or local numbers, claiming to represent the bank and warning victims of "possible unauthorised attempts" to access their bank accounts.

Banks would never send clickable links via SMS, a measure implemented by all banks since early 2022 to combat phishing scams.

Victims are directed to fake DBS websites and asked to provide their internet banking details and One-Time Passwords (OTPs), which scammers use to make unauthorized withdrawals.

DBS employees will never ask for internet banking credentials or OTPs, and customers who suspect they may have fallen prey to scams can call DBS' fraud hotline at 1800 339 6963.

To protect themselves against scam calls and SMSes, people can install the ScamShield App and enable two-factor authentication for bank accounts and e-wallets, as well as set up transaction limits.

DBS has a robust anti-scam awareness programme to raise public vigilance on the latest scams and fraud, which includes phishing scams.

If attempts to sign in through the phishing website have already been made, the log-in credentials of the potentially compromised accounts must be changed immediately.

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DBS also partners with various government bodies to create educational anti-scam content, and those with information about scams can call the police at 1800 255 0000 or submit it online.

A DBS customer, Vignesh KR, shared his frustrating experience trying to report a possible scammer exploiting a genuine DBS account for illicit activities, highlighting the need for caution and verification of identities associated with suspicious activities.

DBS has a Safety Switch on its automated phone system to temporarily block access to funds in case of suspected scams, and customers can activate it by calling the bank's fraud hotline.

To prevent DBS Bank report fraud, it's essential to monitor your account activity regularly. Check your statements online or through the DBS Mobile app to ensure all transactions are legitimate.

DBS Bank recommends setting up real-time alerts to notify you of any suspicious activity. This can be done through the DBS Mobile app or online banking platform.

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You can also take advantage of DBS Bank's SecurePlus feature, which provides an additional layer of security when making online transactions. This feature uses a one-time password sent to your registered mobile number to authenticate transactions.

Remember, DBS Bank's security measures are only as effective as the information you provide. Make sure your account details, including your name, address, and phone number, are up to date and accurate.

DBS Bank's fraud prevention team works closely with law enforcement agencies to investigate and prosecute cases of report fraud.

At least 219 DBS customers lost about S$446,000 to scams in the first two weeks of the year.

DBS customers fell prey to scams through SMS phishing, where scammers impersonated banks or bank staff and sent unsolicited SMSes with short codes, overseas numbers, or local numbers.

The scammers claimed to represent DBS or POSB bank and warned victims of "possible unauthorised attempts" to access their bank accounts.

DBS has a robust anti-scam awareness programme to raise public vigilance on the latest scams and fraud.

Banks, including DBS, have removed clickable links in emails or SMSes to retail customers since early 2022.

The police and DBS advise people to install the ScamShield App to protect themselves against scam calls and SMSes.

DBS employees will never ask for internet banking credentials or OTPs.

Customers who suspect they may have fallen prey to scams can call DBS' fraud hotline at 1800 339 6963, or activate the Safety Switch on DBS' automated phone system to temporarily block access to their funds.