06 Jan '12, 1am

Have you checked your bank account today? Hundreds of DBS customers hit by fraud

Singapore - In what is believed to be the largest case of its kind to hit any bank in Singapore, around 200 customers here have lost about S$200,000 in fraudulent withdrawals from their DBS and POSB accounts. DBS said last night it was investigating the unauthorised withdrawals which were made in Malaysia. The average amount withdrawn was about S$1,000 per account, it said. However, the bank assured all customers that it would compensate them in full for any unauthorised transaction within 24 hours. As news of the fraudulent withdrawals spread yesterday, thousands of DBS customers around the island logged on to the bank's Internet banking website to check their balances. Because of the sudden spike in traffic and the number of users - many could not log onto the website. The saga began on Wednesday. Mr Jeremy Soo, managing director and head of consumer banking group in Sin...

Full article: http://www.todayonline.com/Hotnews/EDC120106-0000069/Hund...

Tweets

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