12 Jan '12, 9pm

Following spate of fraudulent withdrawals from DBS ATMs, OCBC rolls out enhanced ATM security measures

SINGAPORE - In the wake of some 400 DBS and POSB customers being hit by fraudulent ATM withdrawals, OCBC Bank has revealed its measures to enhance the security of its ATM transactions. These include sending out SMS alerts for both local and foreign ATM transactions. The bank will also soon implement an option allowing its customers to switch on or off overseas ATM withdrawals. The SMS alerts will be implemented "taking into account several criteria including customers' behaviour, withdrawal patterns and overseas travel frequency", said Mr Pranav Seth, OCBC's head of E-Business, in an emailed response to media queries. On Wednesday, DBS CEO Piyush Gupta had announced that DBS would provide SMS alerts for ATM withdrawals beyond a certain amount, or when it detects unusual transaction activity. OCBC said it has not received any complaints of card-skimming incidents in Singapo...

Full article: http://www.todayonline.com/Singapore/EDC120113-0000078/OC...

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