#DBS #POSB customers experience large amount of overseas fraudulent withdrawal

DBS/POSB members experience large amount of overseas fraudulent withdrawal Singaporeans late on Thursday were given a huge scare as it was revealed that there was a major overseas attempt to fraudulently withdraw money from their bank accounts. Reported on AsiaOne News, so far the only banks that were affected were DBS/POSB accounts. According to the article, the fraudulent withdrawals were made at ATMs in Kuala Lumpur, even though those affected reported that their ATM cards have always been in their rightful possession and that they have not been to Kuala Lumpur recently.

It was reported that the average amount that was fraudulently withdrawn was SGD$1000. In response, DBS said that they are treating this major case of fraud with ‘utmost priority". Additionally, the bank has been actively contacting their customers whose transaction history has shown they have made ATM transactions in Malaysia recently. Should there be a case of verifiable fraudulent withdrawal; DBS is going to compensate them in full within 24 hours of the fraud being reported.

Should any of you believe that there your DBS or POSB account has been fraudulently accessed recently, please contact the bank immediately at 1800 220 1111.

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