DBS/POSB cardholders to get real-time control over security access to protect against fraud

Move comes amid rising fraud cases in the past year; peers OCBC, UOB also stepping up efforts

Published Sat, Sep 11, 2021 · 05:50 AM

Singapore

DBS has ramped up payments security for its 3.6 million debit and credit card holders with new features that give customers real-time control over their card accounts through the digital banking app, as part of efforts by the bank to curb fraudulent transactions.

This move comes amid rising fraud cases seen here in the past year, with peers OCBC and UOB also stepping up to combat crime and protect customers.

On Friday, DBS said that principal cardholders will be able to manage access and stipulate spend limits on their own cards, as well as on their supplementary cards. In addition, customers will receive instant alerts whenever a transaction is blocked due to preset controls.

Among the new measures put in place by the bank is the ability to enable and disable online e-commerce transactions on both local and overseas websites, which offers an additional layer of protection against unauthorised transactions and potentia…