DBS investigates fraudulent withdrawals

The bank assured customers will be fully compensated for any fraudulent transactions within 24 hours of notifying DBS.

This after some customers informed the bank of unauthorised withdrawals made in Malaysia through their DBS/POSB ATM/Debit cards.

DBS said:

Their compromised cards were immediately de-activated and we are now taking steps to compensate these customers in full.

Any customer who believes their ATM/Debit card(s) may have been compromised, should contact the bank immediately on 1800-220 1111 or visit any DBS/POSB branch.

We are treating the matter with utmost priority and would like to assure customers that they will be fully compensated, for any fraudulent transactions, within 24 hours of notifying the bank.

Investigations are currently underway and we have started to proactively contact all customers whose account transaction history indicates that there has been an ATM transaction made in Malaysia, over the past few days, to double check and confirm that indeed such an ATM transaction was made.

As an added precaution, we will also deactivate all these cards and issue replacement cards. We will provide these customers with a choice of getting a replacement card on the spot at any of our DBS/POSB branches or by having the new card mailed to them.

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Tags: DBS fraudulent withdrawals, DBS investigates unauthorised transactions