Singapore's reputation for being the best in the financial sector has come under fire again with reports that unauthorised withdrawals were made from DBS and POSB account holders.
This comes in the heels of the story that eNets, an online payment provider, went offline for 11 hours because its domain was not renewed in time.
A Facebook user has scanned her POSB bank book to show show the unauthorised withdrawal of funds.
POSB Withdrawal Fraud!
Just came back from the bank to realise that my account has been hacked into. There has been 4 transactions made from overseas ATM machines with withdrawals up to $2000 over a 2 day period!! & my ATM card is here with me in my wallet!
The POSb branch Manager has confirmed that there has been more then one of such cases reported since yesterday!
& I have no internet banking nor paypal accounts!
Am pending the investigations now..
Please check your accounts or update your bankbook my dear friends!
About $200,000 of unauthorised withdrawals have been made from DBS and POSB accounts, as DBS investigates what could be its largest case of fraud to date.
The bank said at 8pm that 200 customers have reported unauthorised withdrawals made from their ATM or debit cards, with the average amount withdrawn at about $1000 per account.