How to protect your cards from mobile wallet scams with DBS
You're shopping online when you come across an irresistible deal. The price seems too good to be true – and unfortunately, it is. Without realising it, you've landed on a phishing site. Eager to secure the bargain, you enter your card details to make a payment. Soon after, an SMS message arrives, prompting you to add your card to your mobile wallet such as Apple Pay, Google Pay or Samsung Pay.
Without a second thought, you enter the one-time password (OTP) sent to you. Everything appears normal – until you notice unauthorised transactions on your card.
This scenario is playing out daily for hundreds of Singaporeans, who are falling prey to increasingly sophisticated mobile wallet scams. According to the Singapore Police Force, mobile wallet scammers made off with over S$1.2 million in just three months.
In many of these cases, scammers trick victims into handing over OTPs, allowing them to link stolen card details to mobile wallets. Once the card is added, scammers immediately start making purchases, leaving the victim with fraudulent charges.
As part of its efforts to counter the growing threat of mobile wallet phishing, DBS has introduced a new feature in its digibank app. To add a DBS or POSB card to a mobile wallet, customers must first enable the new Mobile Wallets toggle under the app's Payment Controls section. This toggle is switched off by default to block unauthorised additions and create a deliberate pause so users can verify the transaction before proceeding.
For added security, the toggle can only be enabled for 10 minutes and will automatically switch off after.
Mr Calvin Ong, head of consumer banking at DBS, said that the new feature encourages customers to stay vigilant when managing their digital transactions.
SET MULTIPLE SAFEGUARDS WITH DBS PAYMENT CONTROLS
DBS' digibank app lets customers take charge of their security with just a few taps. With Payment Controls, customers can protect themselves from unauthorised transactions if their card is misplaced, stolen or compromised. They can selectively disable e-commerce, cash advances, contactless payments, overseas in-store transactions or their card's overseas magnetic stripe when needed.
Customers can temporarily lock a card if they suspect phishing activity or misplace their card. They can also set monthly spending limits for themselves and supplementary card holders to minimise risk.
'DBS is the first and only bank in Singapore to introduce comprehensive self-managed security features such as payment controls and security checkup in our digibank app,' said Mr Ong. 'These tools empower customers with multiple layers of protection, giving them greater control over their finances.'
COMBATING SCAMS WITH BUILT-IN COGNITIVE BREAKS
To help customers assess whether their credit card is being legitimately added to a mobile wallet, DBS has also introduced cognitive breaks into the user journey.
These are intentional pauses in the transaction process that prompt users to slow down and review their actions, giving them a moment to consider whether the request is genuine. Cognitive breaks are part of DBS' broader anti-scam strategy, which includes self-managed tools such as customised alerts on the digibank app. Customers can choose to receive notifications for transactions above a specified amount – even as low as S$0.01 (excluding recurring charges like streaming subscriptions).
DBS' ANTI-SCAM DEFENCE IN REAL TIME
Beyond app-based features, DBS deploys real-time fraud surveillance, advanced security infrastructure and works closely with the Singapore Police Force's Anti-Scam Centre through embedded personnel who monitor and act on suspicious transactions in real time. The bank also drives public awareness of scams, while its Bank Safely Hub provides timely scam alerts and tips to help customers stay protected.
'As scams grow more sophisticated, joint vigilance with our customers is essential,' said Mr Ong. 'We will continue to expand our suite of self-managed security features, anti-scam educational resources and community outreach, to empower customers to take control of their own security.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
2 hours ago
- CNA
CNA938 Rewind - A Letter to Myself: Jolene Tham carries family curry puff business forward with grit and gratitude
CNA938 Rewind - A Letter to Myself: Jolene Tham carries family curry puff business forward with grit and gratitude Jolene Tham, 25, is the third-generation owner of Rolina Traditional Hainanese Curry Puffs, located at Tanjong Pagar Market and Food Centre. She took over the family business in 2023, under difficult circumstances — soon after her father, the second-generation owner, was diagnosed with late-stage cancer. Jolene and her husband, Kwan Wei Lun, share how they had to quickly adapted to the heavy demands of the hawker trade and why they're grateful for having each other as they take the family business forward. 37 mins CNA938 Rewind - A Letter to Myself: How Aminah Abdul Latif teaches children to find themselves in nature Aminah Abdul Latif is the co-founder of the Hundred Paths forest school, which uses immersive experiences in Singapore's natural environment to help children discover invaluable lessons about their abilities and instincts. Aminah, who spent 13 years in the early childhood education sector, shares how her own love for nature began when she was a child, and how she realised that her ability to empathise deeply with others — especially children — has become her "superpower". 37 mins CNA938 Rewind - #TalkBack: How can we attract more people back to Pulau Ubin? Singapore could be looking to make Pulau Ubin more modern and accessible, without losing its natural charm. Lance Alexander and Daniel Martin discuss more with Dr Shawn Lum, Senior Lecturer at Nanyang Technological University (NTU) Asian School of the Environment. 28 mins
CNA
9 hours ago
- CNA
Thrill factor, limited alternatives push some cyclists to enter trails in restricted areas
SINGAPORE: The sun was blazing down on Sunday (Jun 22) morning but Singapore's largest nature park was buzzing with life. The car park was close to full, with mountain bikes being lifted off vehicles and rapidly assembled, before their owners mounted them and whizzed off into the forest at Chestnut Nature Park. There are more than 10 official biking routes, and they appeared far more popular and more heavily utilised than the hiking routes, during the two hours that CNA visited. Along an 8.2km stretch, divided into two sections, are also entrances to other less official routes. One of these is Woodcutter's Trail, in a restricted area where the public is forbidden from entering. Media reports have suggested that this could be where a man suffered a gunshot wound last week, while cycling near Nee Soon Range where the Singapore Armed Forces (SAF) was conducting a live-firing activity. The 42-year-old cyclist was taken to hospital by his friends. He was in a stable condition after surgery to remove a bullet slug lodged in his left lower back. Police said the man had been cycling with friends in a forested area of the Central Catchment Nature Reserve between Upper Seletar Reservoir and Upper Peirce Reservoir. "The public is not allowed to access that particular area, which has signage warning against unauthorised entry into a live-firing area," the police said. Authorities later said on Wednesday that the cyclist was now under investigation for wilful trespass. "ALL ABOUT PERSONAL RESPONSIBILITY" Those who spoke to CNA on Sunday said it was not uncommon for cyclist to enter restricted areas within the Central Catchment Nature Reserve. "I'm not surprised because there are some illegal trails that people would go on," said Mr Mike Jayona. "The (trail on the) inside is more challenging ... for more thrill-seekers, and (those) looking for that rush." CNA understands Woodcutter's Trail is in particular is known for its mix of undulating, rough and undisturbed terrain which appeals to some bikers. Another cyclist, who requested to remain anonymous, said: "At the end of the day, it's all about personal responsibility, and also a bit of common sense. If you hear that live firing is going on, and they still decide to venture in, then they have to pay for the consequence." While official trails were teeming with cyclists on Sunday, CNA did not observe any bikers or hikers ignoring the prominent red and yellow signs warning of live firing areas along the Chestnut North Loop. Chestnut is one of four parks offering mountain bike trails in land-scarce Singapore. The others are Kent Ridge Park, Dairy Farm Nature Park and Bukit Timah Nature Reserve. Offshore Pulau Ubin also has a mountain bike park. The anonymous cyclist told CNA it would help for the National Parks Board (NParks) to design some of its more challenging trails - such as the Bukit Timah Mountain Bike Trail - to be more "user-friendly". "If BT (Bukit Timah) is safer, then I guess more people won't be tempted to go on other illegal trails because in terms of thrill factor, BT is also quite challenging," he said, citing the limited number of trails for beginners. On the mainland, Chestnut Nature Park appears to be the only venue offering a beginner-level trail. "It doesn't make sense for you to take a drop or a jump and land into a pile of rocks," the cyclist added. "At the end of the day, we are not idiots and we are not people who want to break the law ... But it's getting very limited in terms of the available trails and it's also very crowded." Another cyclist who only wanted to be known as Barry also added that he now avoids Bukit Timah Mountain Bike trail because it gets "very, very" congested on weekends. But he said that opening up more trails would not completely stop people from venturing off the beaten path, he added. "If you ask me, I'd say yes it would help. But will it deter people from going into unmarked trails? No.
Business Times
10 hours ago
- Business Times
How Musim Mas navigates palm oil's bad reputation
[SINGAPORE] Deforestation can drive wildlife to the brink of extinction, trigger transboundary haze from the fires set to clear the vegetation, and contribute to forced labour – and its association with palm oil accounts for the industry's bad reputation. The director of sustainable supply chain at palm oil conglomerate Musim Mas does not deny it. 'Unfortunately,... we are still at that stage of saying 'We are not as bad as people think',' said Olivier Tichit. 'But if you go and ask a palm oil farmer what he thinks about palm oil, a (different picture emerges). The farmer does not understand why palm oil is demonised, and the consumer might not understand why farmers or companies are still turning to palm oil. So I think we still lack that connection between palm oil farmers and the global markets.' Information gaps exist in other aspects of the sector too. In 2021, the Indonesian government reported that deforestation rates had fallen by three-quarters to their lowest levels since 1990, when tracking such data began. But two years later, French geospatial company The TreeMap found that deforestation caused by single-crop palm oil plantations was once more on the rise. To address such discrepancies, Musim Mas, one of the largest integrated palm oil players, was the first from Indonesia to join the Roundtable on Sustainable Palm Oil (RSPO), noted Tichit. Formed in 2004, the non-profit group facilitates the exchange of information on sustainability among stakeholders. It has more than 5,000 member organisations globally. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Tichit admitted, however, that 'while we have 98 per cent traceability to plantations, it is very hard to get to 100 per cent because of the dynamic nature of the supply chain'. Tichit says that since the suppliers are usually one or two steps removed from the company, they may not see the need to disclose certain information – or they may view the process of reporting their emissions as daunting. PHOTO: MUSIM MAS Musim Mas conducts its primary operations in Indonesia, working with third-party suppliers and has trained almost 47,000 smallholder farmers. This increases its exposure to Scope 3 emissions significantly, said Tichit, referring to indirect greenhouse gas (GHG) emissions that occur along a company's value chain. Given that 91 per cent of what the Singapore-headquartered company processes is from third parties, it is vital for it to monitor and control Scope 3 emissions in order to meet its 'net-zero by 2050' goal, he added. The main challenge to doing that comes from the lack of clarity on these emissions. Tichit said that since the suppliers are usually one or two steps removed from the company, they may not see the need to disclose certain information – or they may view the process of reporting their emissions as daunting. Getting a better view Musim Mas thus spends 'an inordinate amount of time' engaging with its suppliers, especially those who are not RSPO-certified, and explaining to them what deforestation and peat are. 'What we can do is to be clear about what compliance is, and how you address it when there is an issue,' he added. Tichit said that when the company needs information from its partner farms, it helps to frame the questions differently. 'For example, instead of asking them when their land use changed (and whether they have) high or low land use... often, what we need from them is just: 'Was there a crop before? When did you plant?'' Musim Mas also relies on satellite imagery to track the extent of deforestation caused by its partner farms. It also conducts risk assessments on its suppliers, based on what they disclose and the credibility of this information. The company then assigns its many suppliers 'risk levels', which indicate which of them are trustworthy, and whether their actual emissions can be monitored in real time. 'We are trying to be as conservative as we can, without making it impossible for us to buy from anybody,' noted Tichit. He added: 'We need to ensure that it is easy for the information to come to us, so we can translate it into what the actual emissions are, how we assess them, and when we need to intervene.' The company also utilises the PalmGHG Calculator, developed by RSPO to help palm oil producers estimate and monitor their GHG emissions. Musim Mas has ventured into impact investing as well, through its initiatives with the smallholder farmers who are integrated into its supply chain, said Tichit. These programmes include training the farmers on good agricultural practices. These investments are set to grow. 'We are looking beyond tomorrow – how do we keep the youth now on the farm? How do we make it so that they will have a good living income and be better equipped to be better farm managers? These are some of the programmes that Musim Mas has invested in to prepare itself and the industry for the future.'
