Several DBS, POSB ATMs reportedly "out of service"

SINGAPORE: Several DBS and POSB automated teller machines (ATM) were reported to be out of service on Sunday.

The problem seemed to have started late Sunday morning with the affected ATMs being progressively restored.

A Channel NewsAsia viewer, who wanted to be known as Ms Goh, said she wanted to withdraw some money at Kovan.

She said out of the five ATMs, four were down at about 11:00am. She also added that there was a queue and some people were frustrated.

Ms Goh said she called the bank's customer service hotline and was told that the bank is aware of the situation and was trying to fix the problem.

Another viewer reported that an ATM at Bukit Purmei was out of service at about 1.30pm.

Some ATMs at Suntec were also down.

At this point, DBS is unable to confirm the number of affected ATMs and the cause of the problem.

DBS/POSB customers hit by unauthorised ATM withdrawals

SINGAPORE - DBS is investigating several hundred cases of unauthorised withdrawals from POSB/DBS accounts allegedly made from Malaysia in what could be a large scale bank fraud.

A local news source reported that when last checked at 8pm today, about 200 customers had reported unauthorised withdrawals from their bank accounts to DBS.

The average amount withdrawn is believed to be about S$1,000.

The Straits Times reported that the bank is combing through all transactions made in Malaysia to validate them. In the meanwhile, the bank has deactivated cards suspected to have been compromised.

Several Singaporeans have been writing in to citizen journalism website Stomp complaining of unauthorised withdrawals from their bank accounts from Malaysia.

The spate of unauthorised withdrawals appear to have affected just POSB and DBS account holders for now.

One reader, who gave his name as Dennis, said he found out a sum of money had been withdrawn from his account, with the withdrawal done in Malaysia, and made a police report on January 4.

Dennis told Stomp that there has been a number of cases where money was withdrawn suspiciously from DBS and POSB bank accounts over the last few days. Those affected include cardholders with ATM cards as well as those holding debit cards.

He added that he noticed that in all the cases, the ATM cards remained in possession of the owners, who did not leave the country, but the withdrawals took place in Malaysia.

One victim, Ms Lin, told a news channel that she was told by DBS that the unauthorised transaction had been made on a Malaysian ATM machine around the same time she was withdrawing her money.

Facebook user Amanda Goh posted on her profile that her POSB account had been "hacked" into, with four transactions made from overseas ATM machines.

The withdrawals added up to $2,000 over a two day period, she wrote. She added that she has no internet or paypal accounts.

Another reader Ricky Ng wrote in to warn those with DBS and POSB accounts to check their bank accounts for money suspiciously withdrawn.

"Be alert as a few of our fellow Singaporeans have already fallen prey to this," he said.

In response, DBS has launched investigations and will also be alerting customers if any unusual activity is detected on their accounts.

The bank further said all customers will be fully compensated within 24 hours for any false transaction.

In response to media queries, the police confirmed that they have received several reports of unauthorised withdrawals being made from POSB and DBS bank accounts.

The Commercial Affairs Department of the Singapore Police Force is investigating the matter.
The public is advised to check their bank accounts, and if they believe unauthorised withdrawals have been made, to lodge a police report via the Electronic Police Centre (ePC) at http://www.spf.gov.sg/epc/ or at any Neighbourhood Police Centre.

The report should include the date, amount, location and transaction description for each unauthorised withdrawal.

In addition, bank account holders are also advised to report the matter to DBS.

Any customer who suspects their ATM or debit card has been compromised should contact the bank at 1800-220-1111 or visit any bank branch.

A replacement card will be issued on the spot at any of its branches, DBS said.

Debit-card use may rise amid global turmoil

TWO out of three ATM- or debit-card holders here choose to pay for their daily purchases using PIN-based debit-payment methods such as Nets or Epins, according to a recent survey.

More people are expected to turn to these payment methods in the light of a looming economic crisis, said Korvac Holdings, which conducted the survey involving 452 participants.

The company, which provides services for cashless payments, currently runs Epins - a payment service similar to Nets - for qualifying-full-bank account holders, and Payment Link, which allows consumers to use their ez-link cards to make payments not related to public transport.

"What you see now is that debt and credit are getting a little bit of a bad name. There is an increased feeling that you should really watch your spending," said Korvac's chief marketing officer, Mr Jos Birken.

He added that, in this sense, debit cards are a safer option because they allow cardholders to spend only what they have.

According to market researcher Euromonitor International, the total debit-card payment-transaction value in Singapore amounted to $18.1 million in 2009, and is estimated to hit $27.4 million in 2015.

A mode of payment enabling consumers to pay for goods and services using their mobile phones is also set to tap into the cashless-payment market by next year.

This mobile-payment method is based on NFC (near-field communications) technology, which is already being used in contactless-payment modes such as ez-link cards.

A consortium of seven firms - including telcos SingTel, M1 and StarHub - has been chosen to create and run the network.

At least three mobile- payment services will be made available by the middle of next year, according to earlier reports.