15 Jan '12, 3am

If you were in charge of enhancing security against fraudulent ATM withdrawals, what measures would you take that...

DBS Bank suffered several unauthorized withdrawals from their customer accounts. They are now introducing additional measures to enhance security. It is important to have adequate security, but we have to distinguish between good and bad security measures. A good security measure is effective and does not increase the cost significantly or make it inconvenient for customers. A bad measure does the opposite. The culture in Singapore is "security at all cost" to plan for "the worst case scenario". It is the culture in Singapore to over-react and take excessive measures to "enhance security". This is called our "kiasu" and "kiasi" syndromes. I have seen many examples of bad measures that are costly, and ineffective. The trouble is - all of these measures keep on adding up, and making life quite complicated and stressful. If you were in charge of implementing the good measures...

Full article: http://tankinlian.blogspot.com/2012/01/security-of-atm-ma...

Tweets

Here is my suggestion on how to enhance securit...

tankinlian.blogspot.com 15 Jan '12, 6am

DBS Bank experienced unauthorized withdrawal from their customer accounts through the ATM machines. They are now looking f...

Proposed security measure for ATM withdrawal

tankinlian.blogspot.com 16 Jan '12, 12am

It is a part of the culture in Singapore to focus on what can go wrong, and to think of the worst case scenario. So many t...

DBS moves to implement security measures #Singa...

sg.news.yahoo.com 15 Jan '12, 6am

Why can't they implement all the available security measures from the supplier of the ATM machines just like UOB and OCBC?...

Read more on important changes affecting DBS/POSB card-holders.

Read more on important changes affecting DBS/PO...

straitstimes.com 14 Jan '12, 1pm

With immediate effect, all DBS or POSB ATM or debit card-holders who have not used their cards outside Singapore since Jul...

Following spate of fraudulent withdrawals from ...

todayonline.com 12 Jan '12, 9pm

SINGAPORE - In the wake of some 400 DBS and POSB customers being hit by fraudulent ATM withdrawals, OCBC Bank has revealed...

#security Not all security features activated in DBS' ATMs

#security Not all security features activated i...

asiaone.com 15 Jan '12, 1pm

The two Bugis street ATMs compromised in the recent ATM card skimming scandal did not have "jitter" technology - an ATM se...

Banks to boost ATM security after largest ATM fraud case here #ccureit

Banks to boost ATM security after largest ATM f...

straitstimes.com 13 Jan '12, 1am

In the wake of Singapore's largest ATM fraud case, uncovered at DBS Bank last week, other banks have revealed new initiati...

DBS rolls out additional measures against unaut...

todayonline.com 14 Jan '12, 9pm

SINGAPORE - As two Malaysian men were charged in court yesterday, DBS bank introduced two additional security measures las...

DBS posts update on unauthorised ATM withdrawal...

todayonline.com 13 Jan '12, 1pm

A DBS spokesperson sent the media the following update on the incident of unauthorised ATM withdrawals concerning the bank...

Two Malaysians charged for ATM fraud #Singapore

sg.news.yahoo.com 14 Jan '12, 5am

Two Malaysian men have been charged in court on Saturday morning for possessing card skimming equipment to produce fake AT...

DBS to alert customers of ATM withdrawals via SMS

asiaone.com 12 Jan '12, 1am

my paper Thursday, Jan 12, 2012 DBS Bank and POSB customers can soon expect SMS alerts if withdrawals over a certain amoun...

DBS/POSB should beef up ATM security, say custo...

channelnewsasia.com 07 Jan '12, 7am

SINGAPORE: Most Singaporeans Channel NewsAsia spoke to said they will continue to use ATMs despite the latest fraud which ...

DBS/POSB should beef up ATM security, say custo...

channelnewsasia.com 07 Jan '12, 9am

SINGAPORE: Most Singaporeans Channel NewsAsia spoke to said they will continue to use ATMs despite the latest fraud which ...

ATM scam: 2 Malaysians arrested as DBS pays out...

todayonline.com 13 Jan '12, 9pm

SINGAPORE - DBS Bank has paid out about S$1 million in compensation for the fraudulent withdrawals involving its ATMs, as ...

2 Malaysian men charged over #DBS ATM fraud

2 Malaysian men charged over #DBS ATM fraud

thecourtroom.stomp.com.sg 15 Jan '12, 4am

2 Malaysian men charged over DBS ATM fraud 15 Jan 2012 SOURCE: The Straits Times Online Two Malaysian men were charged in ...