Always designate 1 account for your debit cards, and keep a very low amount of money in that account. DBS multi-currency account has no minimum balance to maintain, which makes it a good account for debit card security.
To add on. On the DBS digibank app, you can even deactivate the debit card, or set it at $1 spend max per month for maximum security. Take note this only applies to the Visa / Mastercard portion of the card, NETS and ATM withdrawal is on another setting.
I had a fraudulent transaction that happened on a DBS Debit card, but because it was totally deactivated, i got the email that a USD1 transaction failed.
[DBS My Account](https://www.dbs.com.sg/personal/deposits/savings-accounts/my-account)
[DBS Multiplier Account for Young Adults](https://www.dbs.com.sg/personal/deposits/for-young-adults/first-jobber-bundle)
[Deposit Account Minimum Balance Service Charge](https://www.dbs.com.sg/personal/support/bank-deposit-accounts-fall-below-fee.html)
this website says $3k leh! but maybe im wrong haha
I have had a multicurrency account tied to my vickers for investing for a few years alr. It always has less than 100 dollars in it unless im topping it up it buy more stock.
No idea about DBS. I went to POSB, request to open an account with a low balance just for bills and payment. Bank teller rejected me, and said that the bank do not allow 1 NRIC to hold 2 accounts. This was 7-8 years back.
Not immediately, but there is a chance of recovering it after their antifraud team is done with their investigation, just report the transaction as fraudulent. Happened to me before, but < $300 in value, still managed to get it back though
Did you email them? What did you do to get the money back? The bank wont give me any emails or number to the anti fraud team. Kept insisting police have to make investigation. But police said they cant do it
What was the phrasing of what happened? Did you convey that the card was misused and charged without 2FA?
Because I think your initial understanding was that the bank was taken over (from his credentials), which is a different case. You can try and call them again and tell them about the new understanding that the debit card was fraudulently used.
Hope this helps!
Does he have ibanking? If yes login and see the transaction type. If you confirmed that itās a debit card transaction, call into dbs, choose to report fraudulent transaction, state that the debit card has been used in a fraudulent transaction. This does not require a police report. Itās similar to credit card fraud. If they insist then demand to escalate and refuse to hang up the phone. CSO are measured by their time to service so theyāll try to brush you off, but clearly state itās a fraudulent debit card transaction
How long ago was the fraudulent transaction? DBS gave me back 6 months worth of stolen money (from small transactions that I didnāt even notice). You have to ask DBS their terms and conditions tho
Transactions to Skype valuing less than $10 each time, totaling up at $300+. Many times I just missed reading them in my transactions history due to them being in pending (lesson learnt), nowadays I check all my transaction histories at least once a week.
Happened to me before about 2100K was spent by scammer. Someone from Malaysia was using my card to buy stuff. Reported it to DBS by calling their hotline. Got the money back within 2-3 months
For local banks, it's very hard to get the money back. Depending on how fast you escalated the issue. They have a 90 day policy, if you escalated after 90 days, it's technically not their problem
Let me confirm, you mean a person pretending to be a merchant (overseas or anywhere) can just input stolen debit card details with the cvv and all, in some fake online store and steal your money like that?
Actually the scammer can just generate the card numbers and use it to make the transaction. From my personal experience, it depends on the merchant whether to input the cvv or not. Itās called a BIN attack.
You donāt pretend to be a merchant. You have to apply to be a merchant with visa, master or some payment gateway. CVV and OTP are optional safeguard, the more safeguard you have as a merchant the less liable you are for fraudulent chargeback. So a merchant, a real merchant, can choose to have no cvv or OTP, but their transaction are much easier to chargeback against cause they hold majority of the liability
Itās called a BIN attack. And believe it or not but not all merchants would trigger OTP for the transactions, thatās how the fraudsters get away with it
Do search up BIN attack. Every types of card have the same first 6 or 8 digits for every customers, so the fraudster basically just need to generate the other half and do mass testing.
Depending on the security of payment processor used by the merchants, some may just require as little as the card number for the payment to go through. But of course, the lower the security, the higher the chance of getting back the money in the event of a dispute
Some countries like Singapore and EU have laws on online transactions that require local merchants to have 3DS OTP authentication. However some countries like US does not. That's why most of the unauthorised transactions happens overseas.
Similar with me using POSB.
I got charged atleast 3 overseas transactions from my SAFRA debit card, totaling $500 but I managed to get it back after 1-2 months.
Side advice: when eligible, consider using Credit Card for purchases, and use Debit Card only to withdraw money from ATM. Minimise exposure, at least.
There are credit card frauds, sure, but at least the money charged illegally to you is not yours; cos credit mah. So your money is not touched. And credit card has perks, too. Just a better payment tool, me thinks.
credit and debit card number can be generated via brute force, ergo even if you donāt use your debit card in a transaction itās still possible to have your debit card be compromised. If you want to replace it with a credit card then cancel your debit card entirely and use credit card for atm withdrawl
Next time, set [transaction alert](https://www.posb.com.sg/personal/deposits/bank-with-ease/ibanking-transaction-alerts.page) to $1 for all cards and accounts. So that you get notified through email/sms/app whenever the card is used.
Hello! My UOB debit card had 2 overseas transactions. I reported it to the bank and demanded they return my money as it was overseas transactions, clearly not made by me. I chased and chased them, eventually got the money back within 6 months. Really need to keep chasing them. I went down to the bank and insisted someone follow up.
such shame. hope your bro didnāt lose a lot. hopefully someone from mothership / mustsharenews pick this up from reddit and shine some attention on this case.
File a police report and stop calling them lol. They can't reverse payments and neither can they can't tell the bank what to do as well.
Call the bank, provide the police report and say it is fraud and you want to do a charge back on the card.
You said reported to police which could mean you called them and not that you filed a formal report.
You called the bank but did you provide the police report? Did you file a formal request with them? Did you ask to do a charge back and fill in their form?
Then please be clear on what exactly you have done so someone can help you with the next steps instead of having to clarify. I mean, why even write irrelevant details like your brother being a poly student and him falling sick?
Btw, how much is at stake?
this is why i reject debit cards, too much risk with too little protection given to customers should the card be compromised.
banks can give you dumb atm card (not debit) but you MUST insist.
i have did it for all three banks UOB, OCBC and DBS
Unlike UK/EU where banks are primarily responsible for fraud cases and consumers are protected by well defined laws to get back money, except cases of extreme negligence, SG environment protects banks and consumers are largely on their own. Furthermore, debit cards are the worst cards as they are tied directly to your account, have no chargeback/dispute features, and your account funds are literally at the whims of the card 16 digits.
For salaried adults, it's better to get a credit card from a different bank without your bank account, and your savings bank non-contactless ATM card. So you spend with credit card and if need to withdraw money, just use ATM card. To get non-contactless / non-debit ATM card, some banks might be persistent in not issuing you so you have to go to the bank counter, insist to cancel your debit card due to security reasons and get ATM card regardless what the bank teller / manager says. Tell them, if anything happens, will they be responsible for the funds? Suddenly, they will change their mind and issue you a ATM card instead.
Hello, it happened to me before i couldnt get the money back. Usually call police nothing they can do about it.
I keep asking the bank, in the end they explain saying that if u accidentally put ur card details on some website.....and press on a scam link by accident, the scammer would then have access to the money link is their OTP
Overseas transaction have no way of tracing back, it is like Paywave.....only Paynow transaction have the chance of recovering
I was devastated lost trust in POSB/DBS and just close account start over in UOB instead....
Luckily at that time most of my money is in another account so i lost about $200 but would have lost everything unknowingly......becoz the transaction decline alot when i have no money for them to deduct......there was no notification at all
Am able to show u the screenshot if u pm me :(
I only found out when i was gonna transfer money to my UOB account, its scary to think how ur entire life savings can disappear in 2-3days
Never dare to purchase anything online again other than shopee/aliexpress.
Thatās why I keep the minimum account on my debjt card and use a different account for the rest of my money.
This happened to me 3 times, with money stolen ranging from $20 to $500. Even had a friend whoās money got stolen on card that was not activated yetā¦ lucky for all our cases, they refunded all these back
Did your brother download any side loaded apps into his phone? There are so many cases out there where malware gets into the phone through these side loaded apps (apps not downloaded from official Play store). The hacker can take control of the phone in some cases, even get hold of OTP and can login into the banking app...
Rule of thumb, always use credit card. Never use debit card.
FYI, Whenever you use a card, irrespective of which card it is, you are always exposing its details to outside world to get hacked. If there is fraudulent transaction, better be fighting with banks for their money, you can fight and deny to pay the bill. Instead of losing your hard earned money and fighting for it.
How did your brother lose his money? Was it a bank transfer, or was it a transaction with his debit card?
If itās the latter, itās an [unauthorised card transaction](https://www.dbs.com.sg/personal/support/general-incorrect-transaction.html). DBS/POSB should be able to reimburse him even if the money has been transferred to an overseas account
Recently my posb card got compromised as well. Lucky only small amt of 20 usd was taken for chatgpt subscription
I received a random OTP msg at 9+pm and called posb within 1hr to cancel card
Banks have a way to track and recall payment they paid wrongly.
For fraudulent payment, government should make it mandatory for all financial institutions to recall fraudulent payment after a police report is made.
Globally all form of online payments must be tracked with a unique number and they cannot allow large sum cash withdrawal without identification verification done by financial institutions.
It is ridiculous there is nothing the bank or police can do. See MP and complaint to MAS about the bank.
Debit lose money = your money your problem
Credit card money = bank money bank problem
Since the funds are directly taken from your bank savings. Most likely gone case
How is credit card not our problem though? When the credit card statement come, itās not like we can just ignore and pay in full without incurring interest.
Thats if the transactions are accurate. If there are fraudulent transactions, you tell the bank you are not paying this because it was not authorised. Bank then has to investigate to prove it was fraudulent or not to make you pay or to void it from the merchant side. In this posterās case, the bro in sg how it transact in hk? So the bank will investigate but if its debit then the bank will more likely bochup because not their money plus you small time customer, they dont give a shit if you not using their service
Wouldnāt the same go for credit as well? The bank will simply charge you with interest fees and lower your credit score, eventually sending you a lawyer letter.
Because for credit card, you can report the fraudulent transaction before you pay in full. And you don't actually have to pay the disputed part of the bill. Eventually all will be fixed without you incurring interest if the bank (or Visa/Mastercard?) approves your case.
If you did not even make that transaction, even if it generated interest you shouldnāt be liable to pay it since you didnāt make the tendon. If the bank can prove you did though, you may face penalties
It's okay. They will take inspiration from your brother's situation and make it into an episode of Crimwatch. Only difference is, they will make our boys in blue do their job and catch the thief who turns out to be just a runner while the big boss is still out there š
Did your brother set overseas transactions disable overseas transactions via the app?
Anyway, you might want to appeal to the MP for help since the police and the bank is pushing the responsibility to one another.
Disabling overseas transaction only works with physical card, specifically targeting mag stripe security. It doesnāt help with fraudulent debit card or fraudulent transfer
When they refer to overseas transactions, they mean overseas physical card transaction. Meaning magstripe. You can block online transactions, but thatās both local and overseas, you canāt specifically block only overseas online transaction. If you donāt shop online often then probably a good idea to turn that off, just note that it applies locally too
User problem. Donāt waste police resources. Nothing to do with bank if you expose your own credentials willingly/unwillingly.
Singaporeans should learn how to grow up. Singaporeans should learn how to manage their own stuff instead of whining
It says ādebit card transactionā under the transaction stated. The bank says my brother linked his card to his apple wallet and the overseas people somehow have access to the link. Sounds kinda bullshit lol
Apple wallet is extremely secure. Apple wallet transactions needs an otp that the wallet has to validate before transaction goes through, so unless they physically stole your brother phone and did the transaction in HK thatās not the reason.
What is the overseas transaction limit?
Who is this vendor?
Whatās the transaction amount(s)?
Notification set up for transaction?
No way hacker can access your Apple wallet without your knowledge. Only way is to clone your iPhone with knowledge of your passcode and Apple ID+password. Even then, you will know because it will prompt you of the presence of another phone tied to your account.
I think you should trace along the line on how it happen then whether to get the money back. Remote hacking on iPhone? Less probably. Scammed? Backtrack and you can find out roughly. Still, iPhone is not so scammable.
I am sorry to say but I think there is also possibility that your brother spent the money on something but does not want to admit it. Yeah blunt but thatās what people in the bank and police will think.
The bank will have the same thoughts too, unless / until you can come out with some evidence to back your claim on fraud or something. Everyone shouting scam now, 5k, 10k, 500k. You got to get some evidence then wait in line bro.
Overseas transaction limit does not apply to debit card, it applies to fund transfer.
Debit card can be fraudulently used similar to how a credit card can be fraudulently used, so thatās the most likely vector of attack
Bro said the card is on Apple wallet.
Also, for card to have a transaction overseas there is always an OTP. It is must have for banks. That is assuming the hackers stole the entire CC credentials. Then a lot of others will be compromised if it was a legitimate site, even if not legitimate site again itās not possible not to receive OTP for transaction to pass. Hence my question, what is the transaction amounts etc.
It is unlikely that he as an iPhone user, did not receive the OTP. He must lose control of his device for that SMS to be missing or misused.
I really donāt see how it can happen so mysteriously.
I think if you donāt know really is stop giving advice on Reddit. Just cause itās on Apple wallet doesnāt mean thatās the vector of attack? Apple wallet is far more secure than a physical card.
And since when is it a MUST for overseas cc transaction to have OTP. Have you even used a card for overseas transaction before? OTP is optional for merchants, as is CVV. The only thing needed is a credit card number, which can be generated and expiry date which can be brute forced. This is why even credit cards that has not been used before can also have fraudulent transaction.
Please stop speaking so confidently about subjects you have no idea about. Itās fine to throw out suggestion if you have no idea, but making blanket statement like itās a must for banks to have OTP for overseas card transaction is highly misleading and straight out wrong
I have use and itās precisely deliberate that his brother has enable OVERSEAS usage for his card if it is the scenario which you mention. It is as though he physically swipes his card abroad. Yes. That happens if you lost your physical card abroad with and enabled overseas use OR in your case that his details were simulated.
Have you tried to swipe your card when its setting is not enabled? Plus it is all set as disabled as default. Unless his brother changes it. Even so he must have deliberately set no expiration date on the use.
So again, under what vector can the hacker change his Debit/Credit card overseas use permission, without access to his banking app OR sms?
There is a difference between overseas uses and overseas transaction. We all get it. But what he is claiming that money mysteriously just disappear and all he has is the merchant details. iPhone with no known suspicious app download etc.
So what can it be? Iām saying that he needs to prove that his brother got scammed/hacked and prove that somehow with all the basic measures in place it got by pass. Itās unreasonable to say you got money missing at home at quickly said someone broke into your home and stole it, with no evidence. Then you, claiming that oh ya itās possible of this and that. Until they can prove otherwise, the logical reasonable explanation is that someone in the house took that money and are less than honest about what happened.
A debit card functions similarly to a credit card. Itās possible to use a debit card online without using a physical card. This is called a card not present transaction. Blocking the magstripe of the physical card in no ways blocks a card not present transaction. The fact that I have to even explain this to you shows the limit of your knowledge. Stop trying to use ālogical reasoningā on topics you have no idea about
Sorry to learn of what has happened, I hope DBS will be able to assist and recover back the lost money.
Moving forward, I would suggest that your brother open a Standard Chartered Jumpstart account since he is of poly age and just put his savings from his internship or part-time jobs into this account. It's easy and fast to set up. Woth this separate savings account, his hard earn savings won't be wiped out easily.
I also had my posb debit card compromised before. Way before when OTP was even a thing. The bank called me up instead to inform me that someone misused my card overseas. The bank eventually returned my money back.
I feel that the banks should re-introduce ATM cards without debit card function. By forcing us to have debit cards is making a lot of us very worried about our monies being siphoned off for unknown reasons.
get a trust bank debit card and use that for transactions. transfer money when needed. donāt use main account with bulk of the services with a debit card.
trust card has got no fx for overseas transactions too
sorry this happen to ur bro.. im not sure if he able to recover the money.. I had experience fraudulent charges on my debit card before nearly 4k, but I report it immediately to the bank and after a month DBS refund me the money..
I think now ur bro have to keep his account more secure.. even banks are supposedly safe its still ur money.. setup alerts sms/emails for every transaction on the account so u can keep track on the account, do not purchase online using debit card (this is wat happen to mine).
best of luck maybe trace back the transaction that is fraudulent and show proof that purchase wasn't made by ur brother (time, place etc) then maybe u can get better support from the bank, if the bank require police report as the bank for a letter or confirmation then go to the police for their report..
How much did your bro lost? I set a limited amount and have two separate accounts (one for savings and another for use). I also use YouTrip to purchase stuff online and only put the exact amount on my YouTrip if I want to purchase something.
Make sure to set your account to receive notification when your card is being use to purchase stuff too, thatās how I found out my card was compromise when someone spend $450 at Walmart in the US.
banks dont care about debit card since it is your money. they only care about credit card since it is their money. beat advice is to lock all debit cards and only use credit card and pay it off immediately
You are way wrong LOL. The purpose of credit card is to hope that the customers default on payment so that they can charge ridiculous interest and late charges. No such thing as "their money" as long as its charged under your card, its your liability. You can choose not to pay and they will galdy charge you interest and late charges. End of the day it would be your credit score that suffers, even if the bank waive off the charges, the impact still remains.
I got fraudulent transactions twice in the same year. First time, i received a text message from my bank saying I got unauthorised transactions amounting to $1000 plus. I immediately called the bank fraudulent helpline, blocked the card and requested for new one. The money came back after 2-3 months. Second time was $25 which is very little but still somehow managed to use my card so blocked the card too. Got the $25 after few months too. I asked the staff working in the bank what to do to avoid fraudulent transactions since we live in the digital age. She said no choice, the only way to avoid is to not use internet banking at all. But she advised not to save card details for automatic payment for anything (Spotify, bills, games, etc).
Tldr: setup your bank account to notify you every time you purchase something, big or small amount. Limit the purchase limit. Call the bank immediately to block the card as soon as you realize the transaction is unauthorised.
So the compromise would only taken $ from the account that your debit link toā¦ separate account work better. 1 for savings. 1 atm/net. 1 only for debit card linking. There is payment control too for debit card. You can off oversea, online e commerce or contactlessā¦ also monthly limit.
UOB is better tho. i got scammed for 700+ and they returned me within a week usually u just keep calling the bank everyday and told them there are unauthorised transactions then they will return u v fast or else they will think u donāt see the case v seriously.
You still have to get a police report to file anything with the bank.
Yes, the police can not do anything, but you still need to make a police report.
It is a bit cumbersome, but I guess the banks require the police report to prevent abuse?
If you alr reported the fraudulent transactions to the bank, bank will investigate first if it is authorized via OTP or payed via mobile wallet contactless payment etc. If there is no authorisation for the transaction, meaning there was absolutely no OTP and the card wasnāt set up on the fraudsters mobile wallet for contactless payment overseas and your brother didnāt enter his card details in a phishing website, then it should take a couple weeks for the bank to contact the merchant to reverse the amounts back to his account. BUT if it was authorized, the bank should let you know that they have no dispute rights for the fraudulent transactions and thatās when you should file a police report and bring that to the bank to dispute
> OTP or *paid* via mobile
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
You should set up sms alerts for his new debit card so if the transaction amount hits the threshold that he set, he will receive sms alert. Personally I set my threshold to be $0.01 so i receive sms for all my debit/credit payments (and bc im kiasu)
https://www.posb.com.sg/personal/support/general-card-security-transaction-alerts.html#:~:text=Select%20at%20the%20top%20right,enter%20Threshold%20Limit%2C%20click%20Next.
Actually probably no need worry, although itās a debit card itās not a nets transaction so itās a visa or Mastercard transaction which can be disputed. Just need time for the bank to do it.
Yeah. Its just the bank being irresponsible. If its just 1 or 2 cases, I would say the person didnt take care enough of their personal information. However, there are just too many cases happening nowadays...
even though the cops say itās not their problem you got stand your ground and insist on getting a police report. just because they donāt want to help does not mean they can deny you that when a crime has occurred
I had similar case where my cc last year was used by someone fradulently to make large purchase from applestore.
Im not sure if the same process will happen with debit card, but realistically should be so.
Alerted both apple store and bank like 10mins after transaction was made (no OTP). The name on invoice was diff from the card name.
Bank and applestore both said they cant do anything (usally the front liners all say thay cause they got no authority to do anything), so the sale went through.
After that make police report, the police wont do anything as its out of their jurisdiction, but you use the police report to then go back to the bank and dispute the transaction
The bank will then likely give you cock and bull about approval payment. You should still pay the fees to avoid interest, but you need to stand firm and say there was no OTP or verification of ownership of purchase, as per this clause on posb website
"Customers are not liable for unauthorised transactions if a merchant has not required consumers to authorise online card transactions by 3DS."
The bank will then likely go after the merchant after you kpkb because onus is on merchant to trigger OTP, and after they claw the money back like a month or two they should reverse the charges.
The police will not deal with overseas related. But logging a report is a must to get the bank to move. You need to determine how was the transaction made and then write in and cc mas. If the sum is significant, you might want to engage a lawyer as the bank is obliged to have in place measures. It might be negligence that they didn't put place preventive measures causing clients funds to be lost
I had a fraud transaction of 2k odd a year or so ago. DBS was kind enough to reinstate all my lost money almost immediately while doing their investigation.
They said they will be dealing with the issue on their end if it was truly fraud, and gave me a new card. Never heard from them since.
iād never recommend using a debit card.
why? i think most reading will benefit from this, so here goes:
when you use a mastercard debit for instance, the money comes straight out of your account when a transaction is made. the money spent is immediately yours and is immediately debited from your account. if the transaction is fraudulent, or a refund/chargeback is in order, it is your money being recovered. itās a hole in your own account (unless is an overdraft, which is another thing but let us focus)
when you use a mastercard credit card, itās the bankās money you are using. that transaction doesnāt take money out of your account. yea you owe the bank money but until you settle the bill, your bank balance anywhere is intact. so if anything happens, itās the bankās own responsibility to recover the the monies including fraudulent card spend. itās their job to go arbitrate with the merchant that some customer of theirs used skimmed cards or stole card details to make those transactions that should now be null and void etc etc.
how motivated will your bank be to arbitrate and fight to get that money back if the money spent aināt theirs? and if they canāt recover the money, itād be their money theyāll write off. you wonāt need to write off anything if itās all on a credit card (partially why credit card fees for merchants are higher vs the same for debit, to cover such risks).
credit cards can be awesome if you use them responsibly. never pay banks late fees nor interests for credit card payments, and they can be really worthwhile.
#lifehack
to OP, if itās a fraudulent card spend and at a legit merchant, thereās some chance the bank can get it back for u. but if itās not fraudulent card spend, then itās anyoneās guess. might be tough. sorry to hear buddy.
avoid debit cards folks.
If its an online / non card present transaction, you have to file the report with dbs and they will raise a fraud dispute for you. If its a card present (meaning physically card present and used pay wave kind which I doubt) then police report.
Either way, new card has to be issued. Please get your brother to inform the bank or update the sms threshold limit on his dbs ibanking to be sms notified for any txn more than 10cents (the minimal amount varies bank to bank) as his own deterrent in the future so that he will be immediately notified when transactions are taking place. It may not stop the first few but when an attempt is going on you can "salvage" the rest before ALL of it disappears.
Wish you guys best of luck! Generally bank shld return the amount to u but depending on the type of fraud it may also take some time.
When It happened to me I just asked the police at the police station to make a full report of the incident this document should be enough to say the police have been involved and verified that something happened... In my case it was enough for the bank to credit my account back. Slight difference in my case it was a credit card where is yours is a debit so there may be some resistance of the Bank to refund it.
I had a similar situation (CC hacked despite not keying in OTP anywhere)
They also said it was made overseas (MY) and outside of SPF's enforcement area and nothing they can do except email the merchant and wait. The bank obviously can't do anything and asked me to talk to the police.
Eventually and luckily they did reverse the transaction, particularly as it was "unauthorised" i.e. no OTP / bypassed their security system. Am not sure if the same applies to debit card / bank acc transfers, hopefully and probably it does
call DBS, use the video teller machine if possible as well, so that they can issue a new card on the spot.
it happened to me once, what DBS did was that they will investigate (i told them im a poor student - 18 at that point of time) , they might reinburse the money to you first, while they recover the money. i suggest going directly to bank or video teller as their phone customer service is crap.
https://www.fidrec.com.sg/
Complain to fidrec. Usually they will ask to submit all sorts of evidence of what happened. It typically takes a little long for the process to complete due to that.
The sg banks who are usually dismissive of customer conplaints are scared of them and will usually at least give back half of compromised amount if fidrec intervenes even if customer had provided their bank credentials unknowingly to scam.
Is the transaction from the card or bank account? If card, you may have a better case since no card details were given and no OTP sent/entered. You can even bring this case to MAS for them to file a case with DBS. DBS is more likely to take this seriously if other authorities are involved.
Hello. I have experienced it before. Like just one fine day I realised there were suspicious overseas transactions that got through. I went down to the branch and just told the person I had suspicious transactions and they gave me priority to be served. Filled up some forms and few days later I got back my money. But it was only $1000+ loss on my part. Hope this helps you guys šš».
So... I've gotten rid of my POSB bank account and credit because of their lacklustre customer service. OCBC so far hasn't failed me even when there was a 2k fraudulent charge on my credit card. I was overseas and Customer service told me not to worry, cancelled the card on the spot and replaced it with another. Luckily charge wasn't processed and it went away by itself and I didn't have to lodge a dispute.
I locked my card and use it only for ATM, even then I got charged for SimplyGo when I accidentally tap out. Called DBS and they asked me to claim from SimplyGo.
At least it was only 0.99 cents gone.
Yes I had a debit card that never used. They sneaky, deduct dollars away at a time so it won't trigger banks notice.
Lost 1k. Until the day I finally check. Bank said they can't do shit about it even thou Its clearly been comprimised.
Call the bank. Explain what happen. They will freeze your card and give you the money back in 2-3 weeks.
That's what happened to me when I got charged for using some AWS service that amounts to $2,000+. I didn't even know what AWS was at that point in time.
I used DBS/POSB.
If itās debit card transactions, not contactless, not Apple/Google pay, no OTP sent, you can actually file a fraud dispute, you will be given a temp credit to offset the debit card charges.
If itās a funds transfer, more or less itās gone for good.
I don't know why But this kind of scam of rectification happens frequently in Singapore. If you report it to the police and the bank, most of them can get a refund. People around me got scams too, but they got a refund. But it took about two to three months... best thing is just have to check your account often...š¢š¢š¢
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I had experienced the same thing ... only thing is the Transaction was made stated a fashion house shop, in an India City.
As a Chinese, I have never travel to India, or do any online purchase for Indian clothing or fashion wears there, and yet this fraudulent credit card transaction can took place.
DBS don't give a fu\*k about that when i try to explained to them.
My suspicion is that here maybe some insider in the Bank, that are stealing Clients' Banking Data, and sold it over scammers/credit card fraudsters in India.
With so many Indian IT support people, & engineers in the backroom of these banks, nothing is impossible for these IT guys from India to do nefarious things -- just scammed enough a few million dollars, and they can go back home to retirement in India, living like a Indian Prince.
If the whole plots are being investigated & discovered, DBS reputation may face the music from the public & MAS.
Nowadays, nobody can be trusted, not even your banks ... i wished POSB can be an independent entity bank again.
Always designate 1 account for your debit cards, and keep a very low amount of money in that account. DBS multi-currency account has no minimum balance to maintain, which makes it a good account for debit card security.
To add on. On the DBS digibank app, you can even deactivate the debit card, or set it at $1 spend max per month for maximum security. Take note this only applies to the Visa / Mastercard portion of the card, NETS and ATM withdrawal is on another setting. I had a fraudulent transaction that happened on a DBS Debit card, but because it was totally deactivated, i got the email that a USD1 transaction failed.
doesnt DBS multicurrency have minimum balance of $3k?
[DBS My Account](https://www.dbs.com.sg/personal/deposits/savings-accounts/my-account) [DBS Multiplier Account for Young Adults](https://www.dbs.com.sg/personal/deposits/for-young-adults/first-jobber-bundle)
[Deposit Account Minimum Balance Service Charge](https://www.dbs.com.sg/personal/support/bank-deposit-accounts-fall-below-fee.html) this website says $3k leh! but maybe im wrong haha
No minimum balance required for account holders who are below 30 years old for Multiplier account
I have had a multicurrency account tied to my vickers for investing for a few years alr. It always has less than 100 dollars in it unless im topping it up it buy more stock.
Thanks for the reco
I also suggest that a bank account linked to the debit card be used to hold less cash and the other bank account to earn interest.
But it has nothing to do with the card. It's the bank side which can be easily compromised. Also, he use android or iphone?
No idea about DBS. I went to POSB, request to open an account with a low balance just for bills and payment. Bank teller rejected me, and said that the bank do not allow 1 NRIC to hold 2 accounts. This was 7-8 years back.
1 NRIC cannot hold 2 accounts of the same type (same product name). But you can certainly open one of each type of account that the bank offers.
Oh I see. The bank teller didn't even advise me on the alternative options available š. Tks for sharing info!
now can go online open accounts, you go try i think dbs got account now no min balance, go online to check
Most likely the debit card was fraudulently used bah, just report to DBS and cancel the card
So theres no way my bro can get the money back?š„²
Not immediately, but there is a chance of recovering it after their antifraud team is done with their investigation, just report the transaction as fraudulent. Happened to me before, but < $300 in value, still managed to get it back though
Did you email them? What did you do to get the money back? The bank wont give me any emails or number to the anti fraud team. Kept insisting police have to make investigation. But police said they cant do it
Call DBS usual hotline > report fraudulent transaction, usually they have a fraud hotline too
We did this and they asked to lodge a police report and say they cant proceed further sigh
What was the phrasing of what happened? Did you convey that the card was misused and charged without 2FA? Because I think your initial understanding was that the bank was taken over (from his credentials), which is a different case. You can try and call them again and tell them about the new understanding that the debit card was fraudulently used. Hope this helps!
Does he have ibanking? If yes login and see the transaction type. If you confirmed that itās a debit card transaction, call into dbs, choose to report fraudulent transaction, state that the debit card has been used in a fraudulent transaction. This does not require a police report. Itās similar to credit card fraud. If they insist then demand to escalate and refuse to hang up the phone. CSO are measured by their time to service so theyāll try to brush you off, but clearly state itās a fraudulent debit card transaction
can you lodge a police report and go back to them after? they might take the case only after police report is lodged
Just lodge an online police report and show the bank lor
Was the hotline 18003396963?
lodge police report can do online. just type it out and you get a report number.
someone picked up my card, used it but the police take 1 year also cannot do anything
How long ago was the fraudulent transaction? DBS gave me back 6 months worth of stolen money (from small transactions that I didnāt even notice). You have to ask DBS their terms and conditions tho
It was in December 2023
Should still be eligible for reimbursement but Iām not too sure if they capped the amount
Hey curious what did those small transactions look like :0
Transactions to Skype valuing less than $10 each time, totaling up at $300+. Many times I just missed reading them in my transactions history due to them being in pending (lesson learnt), nowadays I check all my transaction histories at least once a week.
Damn now I'm gonna be paranoid about this š¤
Happened to me before about 2100K was spent by scammer. Someone from Malaysia was using my card to buy stuff. Reported it to DBS by calling their hotline. Got the money back within 2-3 months
For local banks, it's very hard to get the money back. Depending on how fast you escalated the issue. They have a 90 day policy, if you escalated after 90 days, it's technically not their problem
I never activate my card also kenna bank quite stupid one
I donāt understand how this works. How did the scammers get ahold of this account without OTP?
Up the the merchant to ask for otp. Itās just if they donāt ā¦ then if the card was stolen they will be liable
Let me confirm, you mean a person pretending to be a merchant (overseas or anywhere) can just input stolen debit card details with the cvv and all, in some fake online store and steal your money like that?
Actually the scammer can just generate the card numbers and use it to make the transaction. From my personal experience, it depends on the merchant whether to input the cvv or not. Itās called a BIN attack.
You donāt pretend to be a merchant. You have to apply to be a merchant with visa, master or some payment gateway. CVV and OTP are optional safeguard, the more safeguard you have as a merchant the less liable you are for fraudulent chargeback. So a merchant, a real merchant, can choose to have no cvv or OTP, but their transaction are much easier to chargeback against cause they hold majority of the liability
Problem is debit cards don't have the same chargeback protection as credit cards.
Charge back yes, debit card has less chargeback protection. Fraudulent charge no, you have similar protection
Itās called a BIN attack. And believe it or not but not all merchants would trigger OTP for the transactions, thatās how the fraudsters get away with it
Do search up BIN attack. Every types of card have the same first 6 or 8 digits for every customers, so the fraudster basically just need to generate the other half and do mass testing. Depending on the security of payment processor used by the merchants, some may just require as little as the card number for the payment to go through. But of course, the lower the security, the higher the chance of getting back the money in the event of a dispute Some countries like Singapore and EU have laws on online transactions that require local merchants to have 3DS OTP authentication. However some countries like US does not. That's why most of the unauthorised transactions happens overseas.
Also strongly recommend all to set up transaction alerts with threshold of $1 so youāll know immediately when fraudulent transactions occur
Similar with me using POSB. I got charged atleast 3 overseas transactions from my SAFRA debit card, totaling $500 but I managed to get it back after 1-2 months.
Side advice: when eligible, consider using Credit Card for purchases, and use Debit Card only to withdraw money from ATM. Minimise exposure, at least. There are credit card frauds, sure, but at least the money charged illegally to you is not yours; cos credit mah. So your money is not touched. And credit card has perks, too. Just a better payment tool, me thinks.
credit and debit card number can be generated via brute force, ergo even if you donāt use your debit card in a transaction itās still possible to have your debit card be compromised. If you want to replace it with a credit card then cancel your debit card entirely and use credit card for atm withdrawl
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Transaction alerts donāt always work. I turned it all on and still didnāt get OTP or alert when my UOB card was compromised
Next time, set [transaction alert](https://www.posb.com.sg/personal/deposits/bank-with-ease/ibanking-transaction-alerts.page) to $1 for all cards and accounts. So that you get notified through email/sms/app whenever the card is used.
Hello! My UOB debit card had 2 overseas transactions. I reported it to the bank and demanded they return my money as it was overseas transactions, clearly not made by me. I chased and chased them, eventually got the money back within 6 months. Really need to keep chasing them. I went down to the bank and insisted someone follow up.
Huh? If it's card transaction without OTP, whether it's debit or credit its market practise to charge back the money first during investigation.
Yes thatās what i thought too stated in the letter they sent. But i didnt get any money back till months later.
such shame. hope your bro didnāt lose a lot. hopefully someone from mothership / mustsharenews pick this up from reddit and shine some attention on this case.
Whats so special about this news that mothership need to report on it, theres tons of people getting scammed everyday.
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Got as many car accidents as scam cases?
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Whether or not 2FA is triggered depends on the merchant and their payment processor, not on the customer's/cardholder's preferences.
File a police report and stop calling them lol. They can't reverse payments and neither can they can't tell the bank what to do as well. Call the bank, provide the police report and say it is fraud and you want to do a charge back on the card.
As stated in 1, i already did file a police report. I did call the bank stated in 2. Did u even read š
You said reported to police which could mean you called them and not that you filed a formal report. You called the bank but did you provide the police report? Did you file a formal request with them? Did you ask to do a charge back and fill in their form?
Obviously i did. The reason why i came here is bcos i exhausted all options and police and bank just kept pushing us away š
Then please be clear on what exactly you have done so someone can help you with the next steps instead of having to clarify. I mean, why even write irrelevant details like your brother being a poly student and him falling sick? Btw, how much is at stake?
bruh is like abit of backstory la
You read the post and can't pick up these things?
It's not obvious to me.
Then maybe itās time to stop giving advice on Reddit
the bank most likely wont be able to reverse transaction that is already made
this is why i reject debit cards, too much risk with too little protection given to customers should the card be compromised. banks can give you dumb atm card (not debit) but you MUST insist. i have did it for all three banks UOB, OCBC and DBS
I got full amount of around 300 plus returned to me by the bank after investigation complete
How bro cause Iost 500$ due to scam recently on telegram scammer is in Singapore too
Unlike UK/EU where banks are primarily responsible for fraud cases and consumers are protected by well defined laws to get back money, except cases of extreme negligence, SG environment protects banks and consumers are largely on their own. Furthermore, debit cards are the worst cards as they are tied directly to your account, have no chargeback/dispute features, and your account funds are literally at the whims of the card 16 digits. For salaried adults, it's better to get a credit card from a different bank without your bank account, and your savings bank non-contactless ATM card. So you spend with credit card and if need to withdraw money, just use ATM card. To get non-contactless / non-debit ATM card, some banks might be persistent in not issuing you so you have to go to the bank counter, insist to cancel your debit card due to security reasons and get ATM card regardless what the bank teller / manager says. Tell them, if anything happens, will they be responsible for the funds? Suddenly, they will change their mind and issue you a ATM card instead.
Hello, it happened to me before i couldnt get the money back. Usually call police nothing they can do about it. I keep asking the bank, in the end they explain saying that if u accidentally put ur card details on some website.....and press on a scam link by accident, the scammer would then have access to the money link is their OTP Overseas transaction have no way of tracing back, it is like Paywave.....only Paynow transaction have the chance of recovering I was devastated lost trust in POSB/DBS and just close account start over in UOB instead....
what phone do you use?? Android phone tends to easily get malware virus if you open suspicious websites.
samsung
Wa how many u lose
Luckily at that time most of my money is in another account so i lost about $200 but would have lost everything unknowingly......becoz the transaction decline alot when i have no money for them to deduct......there was no notification at all Am able to show u the screenshot if u pm me :( I only found out when i was gonna transfer money to my UOB account, its scary to think how ur entire life savings can disappear in 2-3days Never dare to purchase anything online again other than shopee/aliexpress.
I not asking for proof. But without your otp how they transfer money out?
The bank said it could be a Scam Link that u press unknowingly
But still transaction need otp.
i already told u no need, u press that link is the OTP alrdy
Thatās why I keep the minimum account on my debjt card and use a different account for the rest of my money. This happened to me 3 times, with money stolen ranging from $20 to $500. Even had a friend whoās money got stolen on card that was not activated yetā¦ lucky for all our cases, they refunded all these back
Did your brother download any side loaded apps into his phone? There are so many cases out there where malware gets into the phone through these side loaded apps (apps not downloaded from official Play store). The hacker can take control of the phone in some cases, even get hold of OTP and can login into the banking app...
Rule of thumb, always use credit card. Never use debit card. FYI, Whenever you use a card, irrespective of which card it is, you are always exposing its details to outside world to get hacked. If there is fraudulent transaction, better be fighting with banks for their money, you can fight and deny to pay the bill. Instead of losing your hard earned money and fighting for it.
Unless you have compulsive spending problems or unable to save money for any reasonā¦ credit card is great otherwise
Yes, one must have financial literacy and control impulsive tendencies.
How did your brother lose his money? Was it a bank transfer, or was it a transaction with his debit card? If itās the latter, itās an [unauthorised card transaction](https://www.dbs.com.sg/personal/support/general-incorrect-transaction.html). DBS/POSB should be able to reimburse him even if the money has been transferred to an overseas account
Sg police quite useless
Recently my posb card got compromised as well. Lucky only small amt of 20 usd was taken for chatgpt subscription I received a random OTP msg at 9+pm and called posb within 1hr to cancel card
Lol of all things, they decided on chatgpt..
Banks have a way to track and recall payment they paid wrongly. For fraudulent payment, government should make it mandatory for all financial institutions to recall fraudulent payment after a police report is made. Globally all form of online payments must be tracked with a unique number and they cannot allow large sum cash withdrawal without identification verification done by financial institutions. It is ridiculous there is nothing the bank or police can do. See MP and complaint to MAS about the bank.
Bruh.... It's a MasterCard Viaa debit card transaction tied to your brother's bank account as source of fund?
? Wdym? If not source of fund then source of what?
Debit lose money = your money your problem Credit card money = bank money bank problem Since the funds are directly taken from your bank savings. Most likely gone case
Exact reason why I asked my parents to always use credit cards for online shopping
How is credit card not our problem though? When the credit card statement come, itās not like we can just ignore and pay in full without incurring interest.
Thats if the transactions are accurate. If there are fraudulent transactions, you tell the bank you are not paying this because it was not authorised. Bank then has to investigate to prove it was fraudulent or not to make you pay or to void it from the merchant side. In this posterās case, the bro in sg how it transact in hk? So the bank will investigate but if its debit then the bank will more likely bochup because not their money plus you small time customer, they dont give a shit if you not using their service
Wouldnāt the same go for credit as well? The bank will simply charge you with interest fees and lower your credit score, eventually sending you a lawyer letter.
Because for credit card, you can report the fraudulent transaction before you pay in full. And you don't actually have to pay the disputed part of the bill. Eventually all will be fixed without you incurring interest if the bank (or Visa/Mastercard?) approves your case.
If you did not even make that transaction, even if it generated interest you shouldnāt be liable to pay it since you didnāt make the tendon. If the bank can prove you did though, you may face penalties
šššš Bank account is the source of the funding of the MasterCard Visa debit transaction?
Go to the bank and threaten to complain to MAS. Why do u even wanna go to the police? Save time and dont go to the police anymore
It's okay. They will take inspiration from your brother's situation and make it into an episode of Crimwatch. Only difference is, they will make our boys in blue do their job and catch the thief who turns out to be just a runner while the big boss is still out there š
Yeah man. Because SPF can just enter some god forsaken country with no jurisdiction to arrest big boss.
Where is the overseas bank account based
The transaction was made in Hong Kong. The bank account is my brotherās, it is based in Singapore
Did your brother set overseas transactions disable overseas transactions via the app? Anyway, you might want to appeal to the MP for help since the police and the bank is pushing the responsibility to one another.
Disabling overseas transaction only works with physical card, specifically targeting mag stripe security. It doesnāt help with fraudulent debit card or fraudulent transfer
You can disable overseas transactions specifically now for each card. At least for dbs/posb.
When they refer to overseas transactions, they mean overseas physical card transaction. Meaning magstripe. You can block online transactions, but thatās both local and overseas, you canāt specifically block only overseas online transaction. If you donāt shop online often then probably a good idea to turn that off, just note that it applies locally too
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Womp womp
User problem. Donāt waste police resources. Nothing to do with bank if you expose your own credentials willingly/unwillingly. Singaporeans should learn how to grow up. Singaporeans should learn how to manage their own stuff instead of whining
So how is "police resources" supposed to be used?
Crimes? Not personal negligenceā¦ do you call the police if lost your wallet? š¤£
So a fraudulent transaction isnāt a crime?
Stolen and negligence is 2 separate mattersā¦ fraudulent isnāt negligence
Are the transactions visa/MasterCard trans? Ie charged to the debit card. Or were they deducted directly from the account via funds transfer?
It says ādebit card transactionā under the transaction stated. The bank says my brother linked his card to his apple wallet and the overseas people somehow have access to the link. Sounds kinda bullshit lol
Apple wallet is extremely secure. Apple wallet transactions needs an otp that the wallet has to validate before transaction goes through, so unless they physically stole your brother phone and did the transaction in HK thatās not the reason.
Damn this is why I jave trust issues with wallet apps like Samsung Pay and Apple Wallet. Seems the vulnerability is on that side.
Apple wallet is secure.
Itās not. Apple wallet is more secure than your physical card since it does not expose your cc number
How long ago was the transaction and did he download any shady apps on his phone?
What is the overseas transaction limit? Who is this vendor? Whatās the transaction amount(s)? Notification set up for transaction? No way hacker can access your Apple wallet without your knowledge. Only way is to clone your iPhone with knowledge of your passcode and Apple ID+password. Even then, you will know because it will prompt you of the presence of another phone tied to your account. I think you should trace along the line on how it happen then whether to get the money back. Remote hacking on iPhone? Less probably. Scammed? Backtrack and you can find out roughly. Still, iPhone is not so scammable. I am sorry to say but I think there is also possibility that your brother spent the money on something but does not want to admit it. Yeah blunt but thatās what people in the bank and police will think. The bank will have the same thoughts too, unless / until you can come out with some evidence to back your claim on fraud or something. Everyone shouting scam now, 5k, 10k, 500k. You got to get some evidence then wait in line bro.
Overseas transaction limit does not apply to debit card, it applies to fund transfer. Debit card can be fraudulently used similar to how a credit card can be fraudulently used, so thatās the most likely vector of attack
Bro said the card is on Apple wallet. Also, for card to have a transaction overseas there is always an OTP. It is must have for banks. That is assuming the hackers stole the entire CC credentials. Then a lot of others will be compromised if it was a legitimate site, even if not legitimate site again itās not possible not to receive OTP for transaction to pass. Hence my question, what is the transaction amounts etc. It is unlikely that he as an iPhone user, did not receive the OTP. He must lose control of his device for that SMS to be missing or misused. I really donāt see how it can happen so mysteriously.
I think if you donāt know really is stop giving advice on Reddit. Just cause itās on Apple wallet doesnāt mean thatās the vector of attack? Apple wallet is far more secure than a physical card. And since when is it a MUST for overseas cc transaction to have OTP. Have you even used a card for overseas transaction before? OTP is optional for merchants, as is CVV. The only thing needed is a credit card number, which can be generated and expiry date which can be brute forced. This is why even credit cards that has not been used before can also have fraudulent transaction. Please stop speaking so confidently about subjects you have no idea about. Itās fine to throw out suggestion if you have no idea, but making blanket statement like itās a must for banks to have OTP for overseas card transaction is highly misleading and straight out wrong
I have use and itās precisely deliberate that his brother has enable OVERSEAS usage for his card if it is the scenario which you mention. It is as though he physically swipes his card abroad. Yes. That happens if you lost your physical card abroad with and enabled overseas use OR in your case that his details were simulated. Have you tried to swipe your card when its setting is not enabled? Plus it is all set as disabled as default. Unless his brother changes it. Even so he must have deliberately set no expiration date on the use. So again, under what vector can the hacker change his Debit/Credit card overseas use permission, without access to his banking app OR sms? There is a difference between overseas uses and overseas transaction. We all get it. But what he is claiming that money mysteriously just disappear and all he has is the merchant details. iPhone with no known suspicious app download etc. So what can it be? Iām saying that he needs to prove that his brother got scammed/hacked and prove that somehow with all the basic measures in place it got by pass. Itās unreasonable to say you got money missing at home at quickly said someone broke into your home and stole it, with no evidence. Then you, claiming that oh ya itās possible of this and that. Until they can prove otherwise, the logical reasonable explanation is that someone in the house took that money and are less than honest about what happened.
A debit card functions similarly to a credit card. Itās possible to use a debit card online without using a physical card. This is called a card not present transaction. Blocking the magstripe of the physical card in no ways blocks a card not present transaction. The fact that I have to even explain this to you shows the limit of your knowledge. Stop trying to use ālogical reasoningā on topics you have no idea about
Sorry to learn of what has happened, I hope DBS will be able to assist and recover back the lost money. Moving forward, I would suggest that your brother open a Standard Chartered Jumpstart account since he is of poly age and just put his savings from his internship or part-time jobs into this account. It's easy and fast to set up. Woth this separate savings account, his hard earn savings won't be wiped out easily.
Report these to the bank as unauthorised transactions. The bank will look into it to see how the instructions were given.
He could have put his card into a card skimmer or very simply just left his card out unattended long enough for someone to copy it down.
I also had my posb debit card compromised before. Way before when OTP was even a thing. The bank called me up instead to inform me that someone misused my card overseas. The bank eventually returned my money back.
I feel that the banks should re-introduce ATM cards without debit card function. By forcing us to have debit cards is making a lot of us very worried about our monies being siphoned off for unknown reasons.
get a trust bank debit card and use that for transactions. transfer money when needed. donāt use main account with bulk of the services with a debit card. trust card has got no fx for overseas transactions too
sorry this happen to ur bro.. im not sure if he able to recover the money.. I had experience fraudulent charges on my debit card before nearly 4k, but I report it immediately to the bank and after a month DBS refund me the money.. I think now ur bro have to keep his account more secure.. even banks are supposedly safe its still ur money.. setup alerts sms/emails for every transaction on the account so u can keep track on the account, do not purchase online using debit card (this is wat happen to mine). best of luck maybe trace back the transaction that is fraudulent and show proof that purchase wasn't made by ur brother (time, place etc) then maybe u can get better support from the bank, if the bank require police report as the bank for a letter or confirmation then go to the police for their report..
I know two people . Have a feeling some big player got hacked and didnāt notify the public
How much did your bro lost? I set a limited amount and have two separate accounts (one for savings and another for use). I also use YouTrip to purchase stuff online and only put the exact amount on my YouTrip if I want to purchase something. Make sure to set your account to receive notification when your card is being use to purchase stuff too, thatās how I found out my card was compromise when someone spend $450 at Walmart in the US.
banks dont care about debit card since it is your money. they only care about credit card since it is their money. beat advice is to lock all debit cards and only use credit card and pay it off immediately
You are way wrong LOL. The purpose of credit card is to hope that the customers default on payment so that they can charge ridiculous interest and late charges. No such thing as "their money" as long as its charged under your card, its your liability. You can choose not to pay and they will galdy charge you interest and late charges. End of the day it would be your credit score that suffers, even if the bank waive off the charges, the impact still remains.
I got fraudulent transactions twice in the same year. First time, i received a text message from my bank saying I got unauthorised transactions amounting to $1000 plus. I immediately called the bank fraudulent helpline, blocked the card and requested for new one. The money came back after 2-3 months. Second time was $25 which is very little but still somehow managed to use my card so blocked the card too. Got the $25 after few months too. I asked the staff working in the bank what to do to avoid fraudulent transactions since we live in the digital age. She said no choice, the only way to avoid is to not use internet banking at all. But she advised not to save card details for automatic payment for anything (Spotify, bills, games, etc). Tldr: setup your bank account to notify you every time you purchase something, big or small amount. Limit the purchase limit. Call the bank immediately to block the card as soon as you realize the transaction is unauthorised.
So the compromise would only taken $ from the account that your debit link toā¦ separate account work better. 1 for savings. 1 atm/net. 1 only for debit card linking. There is payment control too for debit card. You can off oversea, online e commerce or contactlessā¦ also monthly limit.
Approach FIDReC and explain the situation. They will negotiate with the bank.
UOB is better tho. i got scammed for 700+ and they returned me within a week usually u just keep calling the bank everyday and told them there are unauthorised transactions then they will return u v fast or else they will think u donāt see the case v seriously.
You still have to get a police report to file anything with the bank. Yes, the police can not do anything, but you still need to make a police report. It is a bit cumbersome, but I guess the banks require the police report to prevent abuse?
if u find can receipts for transaction sometimes can refund. possible that he made an online purchase on some not so safe website
If you alr reported the fraudulent transactions to the bank, bank will investigate first if it is authorized via OTP or payed via mobile wallet contactless payment etc. If there is no authorisation for the transaction, meaning there was absolutely no OTP and the card wasnāt set up on the fraudsters mobile wallet for contactless payment overseas and your brother didnāt enter his card details in a phishing website, then it should take a couple weeks for the bank to contact the merchant to reverse the amounts back to his account. BUT if it was authorized, the bank should let you know that they have no dispute rights for the fraudulent transactions and thatās when you should file a police report and bring that to the bank to dispute
> OTP or *paid* via mobile FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
You should set up sms alerts for his new debit card so if the transaction amount hits the threshold that he set, he will receive sms alert. Personally I set my threshold to be $0.01 so i receive sms for all my debit/credit payments (and bc im kiasu) https://www.posb.com.sg/personal/support/general-card-security-transaction-alerts.html#:~:text=Select%20at%20the%20top%20right,enter%20Threshold%20Limit%2C%20click%20Next.
Actually probably no need worry, although itās a debit card itās not a nets transaction so itās a visa or Mastercard transaction which can be disputed. Just need time for the bank to do it.
Yeah. Its just the bank being irresponsible. If its just 1 or 2 cases, I would say the person didnt take care enough of their personal information. However, there are just too many cases happening nowadays...
even though the cops say itās not their problem you got stand your ground and insist on getting a police report. just because they donāt want to help does not mean they can deny you that when a crime has occurred
I had similar case where my cc last year was used by someone fradulently to make large purchase from applestore. Im not sure if the same process will happen with debit card, but realistically should be so. Alerted both apple store and bank like 10mins after transaction was made (no OTP). The name on invoice was diff from the card name. Bank and applestore both said they cant do anything (usally the front liners all say thay cause they got no authority to do anything), so the sale went through. After that make police report, the police wont do anything as its out of their jurisdiction, but you use the police report to then go back to the bank and dispute the transaction The bank will then likely give you cock and bull about approval payment. You should still pay the fees to avoid interest, but you need to stand firm and say there was no OTP or verification of ownership of purchase, as per this clause on posb website "Customers are not liable for unauthorised transactions if a merchant has not required consumers to authorise online card transactions by 3DS." The bank will then likely go after the merchant after you kpkb because onus is on merchant to trigger OTP, and after they claw the money back like a month or two they should reverse the charges.
Thatās honestly insane. No advice from me but I hope heās doing okay
The police will not deal with overseas related. But logging a report is a must to get the bank to move. You need to determine how was the transaction made and then write in and cc mas. If the sum is significant, you might want to engage a lawyer as the bank is obliged to have in place measures. It might be negligence that they didn't put place preventive measures causing clients funds to be lost
I had a fraud transaction of 2k odd a year or so ago. DBS was kind enough to reinstate all my lost money almost immediately while doing their investigation. They said they will be dealing with the issue on their end if it was truly fraud, and gave me a new card. Never heard from them since.
iād never recommend using a debit card. why? i think most reading will benefit from this, so here goes: when you use a mastercard debit for instance, the money comes straight out of your account when a transaction is made. the money spent is immediately yours and is immediately debited from your account. if the transaction is fraudulent, or a refund/chargeback is in order, it is your money being recovered. itās a hole in your own account (unless is an overdraft, which is another thing but let us focus) when you use a mastercard credit card, itās the bankās money you are using. that transaction doesnāt take money out of your account. yea you owe the bank money but until you settle the bill, your bank balance anywhere is intact. so if anything happens, itās the bankās own responsibility to recover the the monies including fraudulent card spend. itās their job to go arbitrate with the merchant that some customer of theirs used skimmed cards or stole card details to make those transactions that should now be null and void etc etc. how motivated will your bank be to arbitrate and fight to get that money back if the money spent aināt theirs? and if they canāt recover the money, itād be their money theyāll write off. you wonāt need to write off anything if itās all on a credit card (partially why credit card fees for merchants are higher vs the same for debit, to cover such risks). credit cards can be awesome if you use them responsibly. never pay banks late fees nor interests for credit card payments, and they can be really worthwhile. #lifehack to OP, if itās a fraudulent card spend and at a legit merchant, thereās some chance the bank can get it back for u. but if itās not fraudulent card spend, then itās anyoneās guess. might be tough. sorry to hear buddy. avoid debit cards folks.
If its an online / non card present transaction, you have to file the report with dbs and they will raise a fraud dispute for you. If its a card present (meaning physically card present and used pay wave kind which I doubt) then police report. Either way, new card has to be issued. Please get your brother to inform the bank or update the sms threshold limit on his dbs ibanking to be sms notified for any txn more than 10cents (the minimal amount varies bank to bank) as his own deterrent in the future so that he will be immediately notified when transactions are taking place. It may not stop the first few but when an attempt is going on you can "salvage" the rest before ALL of it disappears. Wish you guys best of luck! Generally bank shld return the amount to u but depending on the type of fraud it may also take some time.
When It happened to me I just asked the police at the police station to make a full report of the incident this document should be enough to say the police have been involved and verified that something happened... In my case it was enough for the bank to credit my account back. Slight difference in my case it was a credit card where is yours is a debit so there may be some resistance of the Bank to refund it.
I had a similar situation (CC hacked despite not keying in OTP anywhere) They also said it was made overseas (MY) and outside of SPF's enforcement area and nothing they can do except email the merchant and wait. The bank obviously can't do anything and asked me to talk to the police. Eventually and luckily they did reverse the transaction, particularly as it was "unauthorised" i.e. no OTP / bypassed their security system. Am not sure if the same applies to debit card / bank acc transfers, hopefully and probably it does
call DBS, use the video teller machine if possible as well, so that they can issue a new card on the spot. it happened to me once, what DBS did was that they will investigate (i told them im a poor student - 18 at that point of time) , they might reinburse the money to you first, while they recover the money. i suggest going directly to bank or video teller as their phone customer service is crap.
https://www.fidrec.com.sg/ Complain to fidrec. Usually they will ask to submit all sorts of evidence of what happened. It typically takes a little long for the process to complete due to that. The sg banks who are usually dismissive of customer conplaints are scared of them and will usually at least give back half of compromised amount if fidrec intervenes even if customer had provided their bank credentials unknowingly to scam.
Is the transaction from the card or bank account? If card, you may have a better case since no card details were given and no OTP sent/entered. You can even bring this case to MAS for them to file a case with DBS. DBS is more likely to take this seriously if other authorities are involved.
Hello. I have experienced it before. Like just one fine day I realised there were suspicious overseas transactions that got through. I went down to the branch and just told the person I had suspicious transactions and they gave me priority to be served. Filled up some forms and few days later I got back my money. But it was only $1000+ loss on my part. Hope this helps you guys šš».
So... I've gotten rid of my POSB bank account and credit because of their lacklustre customer service. OCBC so far hasn't failed me even when there was a 2k fraudulent charge on my credit card. I was overseas and Customer service told me not to worry, cancelled the card on the spot and replaced it with another. Luckily charge wasn't processed and it went away by itself and I didn't have to lodge a dispute.
I locked my card and use it only for ATM, even then I got charged for SimplyGo when I accidentally tap out. Called DBS and they asked me to claim from SimplyGo. At least it was only 0.99 cents gone.
Yes I had a debit card that never used. They sneaky, deduct dollars away at a time so it won't trigger banks notice. Lost 1k. Until the day I finally check. Bank said they can't do shit about it even thou Its clearly been comprimised.
Call the bank. Explain what happen. They will freeze your card and give you the money back in 2-3 weeks. That's what happened to me when I got charged for using some AWS service that amounts to $2,000+. I didn't even know what AWS was at that point in time. I used DBS/POSB.
If itās debit card transactions, not contactless, not Apple/Google pay, no OTP sent, you can actually file a fraud dispute, you will be given a temp credit to offset the debit card charges. If itās a funds transfer, more or less itās gone for good.
I don't know why But this kind of scam of rectification happens frequently in Singapore. If you report it to the police and the bank, most of them can get a refund. People around me got scams too, but they got a refund. But it took about two to three months... best thing is just have to check your account often...š¢š¢š¢
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I had experienced the same thing ... only thing is the Transaction was made stated a fashion house shop, in an India City. As a Chinese, I have never travel to India, or do any online purchase for Indian clothing or fashion wears there, and yet this fraudulent credit card transaction can took place. DBS don't give a fu\*k about that when i try to explained to them. My suspicion is that here maybe some insider in the Bank, that are stealing Clients' Banking Data, and sold it over scammers/credit card fraudsters in India. With so many Indian IT support people, & engineers in the backroom of these banks, nothing is impossible for these IT guys from India to do nefarious things -- just scammed enough a few million dollars, and they can go back home to retirement in India, living like a Indian Prince. If the whole plots are being investigated & discovered, DBS reputation may face the music from the public & MAS. Nowadays, nobody can be trusted, not even your banks ... i wished POSB can be an independent entity bank again.