SINGAPORE – In a concerning trend, at least 14 individuals have fallen victim to impersonation scams involving DBS Bank since September 21.

The total losses from these scams have reached an alarming $29,000.

This startling rise in phishing attempts was revealed on October 8 in a joint advisory issued by the police and DBS.

The advisory serves as a crucial warning to the public, urging everyone to be vigilant and avoid falling prey to such fraudulent activities.

Victim Outreach and Scam Dynamics

Victims typically receive fraudulent emails or text messages claiming to be from DBS Bank, leading them to believe there is an urgent issue with their accounts or digital tokens.

The messages often entice users to click on embedded links that promise solutions, promotions, or new membership applications.

Once the unsuspecting victims click on these links, they are redirected to phishing websites designed to capture sensitive information.

Here, they are prompted to enter their banking credentials, card details, or one-time passwords.

Unfortunately, many victims only realize they have been scammed after noticing unauthorized transactions draining their bank accounts.

Recommended Precautionary Measures

To protect yourself from these scams, authorities recommend several precautionary steps.

Installing the ScamShield app is a good start, alongside setting up security features for internet banking transactions.

Additionally, utilizing DBS's Money Lock feature can help secure a portion of your savings against potential threats.

Stay Vigilant and Report Scams

Authorities encourage everyone to remain skeptical of messages that include clickable links, as legitimate banks do not send such links via SMS or email.

Instead, any official communication from banks will come from recognized sender IDs.

Moreover, it is essential to communicate with family and friends about these ongoing scams and immediately report any fraudulent transactions to your bank.

If you encounter suspicious activities or have information regarding these impersonation scams, you can contact the police hotline at 1800-255-0000 or report it through their website.

Final Advice

Don't let your hard-earned money fall into the hands of scammers.

For more tips on safeguarding your online interactions, visit the DBS Bank Safely Hub website and stay informed about the latest scams affecting your community.

Protect yourself – because the next victim could be you!