219 DBS customers lose about S$446,000 to scams in 2 weeks

SINGAPORE: At least 219 DBS customers have fallen prey to scams in the first two weeks of the year, losing about S$446,000 (US$335,000) in total. 

There has been a surge in cases of SMS phishing scams since December last year, where scammers would impersonate banks or bank staff, said the police and DBS in a joint news release on Sunday (Jan 14).

In these cases, victims would receive unsolicited SMSes bearing short codes, overseas numbers or local numbers.

The scammers claim to represent DBS or POSB bank and warn victims of “possible unauthorised attempts” to access their bank accounts. 

It would urge them to click on embedded links to “verify their identities and stop the transactions”.

After clicking on the links, the victims would be directed to fake DBS websites and asked to provide their internet banking details and One-Time Passwords (OTPs), which scammers would then use to make unauthorised withdrawals.

In response to CNA’s query, a DBS spokesperson said it would assess victims’ circumstances and “offer goodwill payouts on a case-by-case basis”.

“Beyond financial assistance, we also partner with counselling centres to offer counselling services to victims who may need emotional support,” added the spokesperson.

“We have in place a robust anti-scam awareness programme to raise public vigilance on the latest scams and fraud, which includes phishing scams.”