DBS 02 (Aug 10 - Dec 27)

[winston]

DBS rolls out additional measures against unauthorised withdrawals by Alvina Soh

SINGAPORE - As two Malaysian men were charged in court yesterday, DBS bank introduced two additional security measures last night to guard against unauthorised ATM withdrawals.

DBS/POSB ATM/debit card-holders who have not used their cards outside Singapore since July 1 last year will not be able to make ATM cash withdrawals overseas, unless the bank is instructed.

This means that those who historically used their ATM/debit cards locally will now have to inform the bank should they want to make cash withdrawals overseas.

They can enable the overseas cash withdrawal function at any DBS/POSB ATM branch or call 1800-220 1111.

And from Tuesday, those who have chosen to enable their cards for overseas use will also receive a real-time SMS alert confirming their request.

DBS has advised its customers to provide their current mobile phone numbers to enable the bank to provide real-time SMS alerts.

"The bank believes it is important to move quickly and step up ATM security measures for customers' added peace of mind," said DBS last night.

Yesterday morning, 27-year-old Loke Siew Fei and 39-year-old H'Ng Gaik Chin were charged in court with possessing skimming equipment to make false ATM cards.

They allegedly intended to use them to make unauthorised withdrawals from DBS Bank Automated Teller Machines (ATM).

It is believed that they conspired with some other people, including Chin Yew Pong, on Dec 12 last year.

On Jan 12, as they were carrying out their plans, both men were arrested in Kim Tian Hotel at Geylang Lorong 22.

According to a hotel staff, Loke and H'Ng checked in last Wednesday.

They were nabbed a day later during an islandwide operation by Commercial Affairs Department officers to arrest members of a transactional ATM skimming syndicate.

It is believed that they intended to induce DBS Bank to accept the false ATM cards as genuine and dispense money without the customers' authorisation.

They are currently remanded to help investigators establish the identity of other syndicate members.

Their case will be next mentioned on Thursday. If convicted, they can be fined and jailed up to 10 years.

http://www.todayonline.com/Singapore/ED ... ithdrawals

[winston]

not vested

Singapore's DBS Group Holdings may be in focus after posting an unexpected 8 percent rise in quarterly profit, as strong loan growth propelled key net interest income up by 17 percent.


Source: Reuters

[kennynah]

Singapore pap style...don't like ah...too bad

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DBS deactivates ATM cards, angers customers
By Chua Yini | SingaporeScene

Many DBS customers are riled after the bank deactivated their ATM and debit cards without prior notice, leaving many shocked and stranded without cash.Many DBS customers are riled after the bank deactivated their ATM and debit cards without prior notice, leaving …

Many DBS customers are riled after the bank deactivated their ATM and debit cards without prior notice, leaving many shocked and stranded without cash.

Affected customers Yahoo! Singapore interviewed said that they received an SMS informing them of the deactivation of their card, which read: "We are mailing a new ATM card to you. For added security, your card ending XXXX is deactivated. For urgent replacement, pls visit any DBS/POSB branch."

Some said the sudden deactivation was a big inconvenience as they were stuck without means of obtaining cash for a while.

Said a DBS customer Seah Wei Jie, "I was frustrated, because I could not get money asap on the stop unless we went to a DBS bank branch."

The 28-year-old added that although customers were informed that they could withdraw cash from any DBS or POSB branch, they could only do that during operating hours during the weekdays.

"But if it happens on weekends, you can't get any money because all the banks are closed. We go to ATMs because we need money urgently, to take cab and all," said the retail supervisor.

Similarly, another customer, student Chelsea Chang's DBS ATM and debit cards were both deactivated on Monday. Said the 22-year-old, "How can they suspend people's cards without notice? And the SMS told us to go to a nearest bank if it's urgent. Do they think we're so free to go to the bank?"

"Luckily I have other credit cards, so I'm not really affected. But those people who need cash will be irritated," she added.

The issue comes on the back of a recent high-profile DBS ATM skimming fraud in January that compromised 700 cards and the compensation amounted to S$1 million.

When contacted by Yahoo! Singapore, DBS said: "We are sorry for the inconvenience caused. DBS recently introduced a host of additional security measures, including real-time SMS alerts to guard against unauthorised ATM withdrawals and give customers added peace of mind. We have also begun issuing new ATM/Debit cards in batches. Going forward, we will review and improve our card replacement process."

DBS added that customers can visit the nearest DBS/POSB branch or call them for an urgent card replacement.

[iam802]

As far as the local banks are concerned, I am not sure why should a person sticks to DBS/POSB.

I have closed my account with DBS many years back as I find that the branches is always crowded.

Just using any of the other local banks, the service will be so much faster.

[iam802]

From MrBrown...(for a little laugh). Screw up communications.

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[kennynah]

they must have digitized the ATM cards... 万岁 keleng ceo

[iam802]

Oh my,... DBS

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DBS hit by ATM fraud again

http://www.asiaone.com/News/Latest%2BNe ... 29820.html

SINGAPORE - Seventeen DBS customers had $23,000 in total stolen from them last Sunday, as fraudsters used Singapore ATM machines to make unauthorised withdrawals, DBS said.

This incident is not the 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, a spokesman from the bank told The Straits Times.

The bank received calls reporting the fraud from a handful of customers who were notified of the unauthorised withdrawals through real-time SMS alerts from the bank.

....

[kennynah]

thumbs up...

we should hire more foreigners to run our companies. my govt says they are the best. without them, singaporeans will die. cannot survive.

[winston]

DBS CEO earned pay package of S$8.08 mln in 2011

SINGAPORE, March 29 (Reuters) - DBS Group's chief executive, Piyush Gupta, earned S$8.08 million ($6.4 million) in 2011 when the Singaporean lender's net profit rose to a record.

The pay package did not include S$773,240 of shares Gupta will receive as part of shares option or a so-called "retention award", Singapore's biggest bank said on Thursday.

In 2010, Gupta earned S$7.35 million without the retention award, which, when included, took his total compensation to S$8.04 million, DBS said.

Gupta has been praised by investors for turning around the bank as he focused on boosting revenue from existing businesses such as wealth management and avoiding pricey acquisition.

The chief executive of Oversea-Chinese Banking Corp, David Conner, who will retire next month, earned S$7.08 million in 2011, its annual report showed.

http://www.reuters.com/article/2012/03/ ... T120120329

[winston]

not vested

DBS Group Ltd may be in focus after it said on Monday it has agreed to buy a 67.37 percent stake in Indonesia's Bank Danamon from an arm of Singapore state investor Temasek Holdings for S$6.2 billion ($4.93 billion) in new shares.

Source: Reuters