Singapore Police Warn of Scammers Impersonating DBS Through Spoofed SMSes
Barely halfway through the first month of the 2024, and scammers are already at it.
According to the Straits Times, at least 83 people have already fallen victim to DBS Bank phishing scams since the start of the year, with total losses amounting about S$155,000. The Singapore Police Force revealed the numbers on 5 January, warning the public to be vigilant of scammers impersonating DBS.
This phishing scam variant reportedly involves scammers sending spoofed SMSes to potential victims in an attempt to steal their online banking usernames, passwords and one-time passwords (OTP). These SMSes contain warnings of possible unauthorised attempts to access DBS bank accounts, urging victims to click on the a link to verify their identities and stop a fake transaction.
The link directs victims to spoofed DBS websites, where they'll be required to provide their online banking credentials and OTP. After victims do that, the scammers then use the information provided to make unauthorised transactions.
Sometimes, victims receive messages via WhatsApp, instead of SMS. These messages are said to come from fake DBS security department officers, who provide forged bank statements displaying unauthorised transactions made in the victims’ e-wallets.
Victims usually don't realise they have been scammed until they discover that unauthorised transactions have been made with their bank accounts.
The police advise the public to adopt certain security measures to stay protected from these scams.
First, they should install ScamShield to protect themselves from calls and SMSes which are fraudulent in nature. As part of this, they must also set up transaction limits for their online banking accounts and e-wallets, as well as enable two-factor authentication.
Second, they can check or scam signs with official sources, such as ScamShield WhatsApp bot @ https://go.gov.sg/scamshield-bot, or call the Anti-Scam Helpline on 1800-722-6688, or visit www.scamalert.sg. The police stress that DBD will never send clickable links via SMS.
Finally, victims should report any fraudulent transactions to authorities and to DBS immediately. Victims should also tell their friends and family about it, so they too can be informed.
At least 83 people have already fallen victim to DBS Bank phishing scams since the start of the year, with total losses amounting about S$155,000.
This phishing scam variant reportedly involves scammers sending spoofed SMSes to potential victims in an attempt to steal their online banking credentials.
Sometimes, victims receive messages via WhatsApp, instead of SMS.