Over 50,376 scams were reported in 2023 alone, with $651.8 million lost.
The threat of scams can be intimidating, and prevent those who are fearful of scams from going online. But a safer online community starts first with a digitally inclusive society, so that knowledge and recognition of scam tactics is widespread and scammers can be effectively thwarted. Beyond the security measures DBS/POSB has in place to combat evolving scam typologies, including security controls, surveillance and monitoring systems, we’re committed to driving anti-scam awareness to raise public vigilance on the latest scams and fraud.
Among the ongoing partnerships in our anti-scam awareness efforts, DBS Foundation, in support of the national Digital for Life movement by Infocomm Media Development Authority, has partnered Cyber Security Agency of Singapore to equip our communities with skills to navigate the digital world safely and confidently.
This initiative builds on the efforts of DBS Foundation’s Community Impact chapter to prepare communities to face the future with confidence, armed with digital and financial literacy skills.
6 security tips to protect yourself online
Banking online can be safe if you stay vigilant. Learn how to protect yourself against scams with these 6 simple security tips!
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Be Web Wise
Stay Alert
Keep Device
Healthy
Be Aware
Be
Responsible
Stay
Protected
Be Web Wise
Do not open suspicious links and attachments, or scan QR codes from unknown sources
DBS / POSB will never send links to websites in our SMSes and emails
Verify bank requests through our official website or hotline
Stay Alert
Set transaction alerts on your bank accounts and debit/credit cards
Keep your contact details updated to get timely alerts and detect fraudulent transactions early
Review your transactions regularly. If you notice any unauthorised transactions, use Payment Controls to block your debit/credit card or our Safety Switch to halt any further transaction and call the bank immediately
Healthy Device
Update your phone to the latest iOS or Android operating system
Enable 2-factor authentication for extra security
Install apps from official app stores such as Apple App Store or Google Play Store
Aware
Avoid sharing personal information online
When using public Wi-Fi, refrain from carrying out sensitive activities like online banking
Responsible
Review your phone's privacy settings, do not grant unnecessary permissions on your apps
Do not share unverified advertisements or news to prevent scams and misinformation
Protect
Secure your device with a strong password and fingerprint or facial authentication
Set a lower daily transfer limits to limit your exposure to fraudulent transactions
You can also choose to lock up your money digitally with digiVault
Take the quiz below to see if you are prepared against scams!
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On a scale of 1 to 5, how confident are you in banking digitally? (1 being least confident, 5 being most confident)
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Question 1 of 6
An advertisement for cheap cleaning services appears on your Facebook newsfeed. You contact the company and you are instructed to download an application to make the payment. What should you do?
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Question 1 of 6
Well done!
Be careful of fake advertisements posted on social media sites. Scammers may use these advertisements to trick you into downloading a malware onto your device.
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Question 1 of 6
Good try!
Be careful of fake advertisements posted on social media sites. Scammers may use these advertisements to trick you into downloading a malware onto your device.
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Question 2 of 6
You receive an SMS from DBS claiming that there are suspicious transactions in your bank account and that it will be suspended if you do not take action immediately. You have to click on a link to input your banking details. What should you do?
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Question 2 of 6
Well done!
Banks will never send you emails and SMSes with clickable links.
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Question 2 of 6
Good try!
Banks will never send you emails and SMSes with clickable links.
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Question 3 of 6
You receive an unsolicited job offer via messaging apps (Telegram, WhatsApp etc) that promises high commissions for receiving and transferring money. What should you do next?
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Question 3 of 6
Well done!
Be careful of unsolicited job offers promising high commissions with very little effort. Do not transfer money to people you have not met in person or pay upfront for a job.
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Question 3 of 6
Good try!
Be careful of unsolicited job offers promising high commissions with very little effort. Do not transfer money to people you have not met in person or pay upfront for a job.
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Question 4 of 6
You receive a transaction notification alert for a card payment that you did not make. What should you do?
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Question 4 of 6
Well done!
Remember to keep your contact details with DBS updated and set a transaction alert limit of $0.01 to receive an alert for any transactions above $0.01. If you spot any unauthorised credit card transactions, use Payment Controls to immediately lock your card and call the DBS 24hrs Fraud Hotline 1800 339 6963 or +65 6339 6963 (overseas) to report the fraudulent transaction.
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Question 4 of 6
Good try!
Remember to keep your contact details with DBS updated and set a transaction alert limit of $0.01 to receive an alert for any transactions above $0.01. If you spot any unauthorised credit card transactions, use Payment Controls to immediately lock your card and call the DBS 24hrs Fraud Hotline 1800 339 6963 or +65 6339 6963 (overseas) to report the fraudulent transaction.
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Question 5 of 6
Which of the following is an example of a strong password?
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Question 5 of 6
Well done!
Create a strong password using words that relate to a memory unique to you. A strong password should contain at least 12 characters with uppercase and lowercase letters, numbers or symbols. P@ssw0rd and qwerty1234 are too short or easily guessed despite the use of symbols and numbers.
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Question 5 of 6
Good try!
Create a strong password using words that relate to a memory unique to you. A strong password should contain at least 12 characters with uppercase and lowercase letters, numbers or symbols. P@ssw0rd and qwerty1234 are too short or easily guessed despite the use of symbols and numbers.
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Question 6 of 6
You receive an unsolicited WhatsApp video call from a police officer claiming that they are investigating suspicious transactions in your bank account. The police officer then asks for your personal and banking information for verification. What should you do?
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Question 6 of 6
Well done!
Government officials will never demand immediate payment online or instruct you to transfer money to any local or foreign bank account, or stop you from hanging up. Always verify the authenticity of the information by contacting the relevant government agencies through their official hotline.
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Question 6 of 6
Good try!
Government officials will never demand immediate payment online or instruct you to transfer money to any local or foreign bank account, or stop you from hanging up. Always verify the authenticity of the information by contacting the relevant government agencies through their official hotline.
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On a scale of 1 to 5, are you more confident to bank digitally after the quiz? (1 being least confident, 5 being most confident)
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What is your age?
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Thank You
Congratulations! Continue to stay alert and updated with our latest security alerts as scams keep evolving!
Thank You
You’ve completed the quiz – good try! Continue to stay alert and updated with our latest security alerts as scams keep evolving!
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Thank You
Oh dear! You might need to improve your knowledge of scams. Try again or read up on the latest security tips to better protect yourself.
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Continue your digital journey with us
Whether you’re looking to learn more about cashless payments or protect yourself against online scams, we’ve developed a series of workshops to cater to your needs. Sign up today!
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