ABS launches S$4 million programme to support 10,000 low-income households, fight scams
This is the first time that the banking industry has combined its efforts in this manner
THE Association of Banks in Singapore (ABS) launched a S$4 million Community Giveback Programme on Saturday (Jun 8) with the support of some 50 member banks, which include the three local ones – DBS, OCBC and UOB.
This is the first time that the banking industry has combined its efforts in this manner.
The initiative will encompass two pillars – a focus on social and environmental issues, and a new anti-scam campaign.
ABS director Ong-Ang Ai Boon said: “Together, we provide practical assistance to households and individuals in need... and step up our collective fight against scams as we navigate the digital world.”
A sum of S$2 million has been set aside for the first pillar. Some of this money will be used to distribute household essentials to about 10,000 beneficiary households via 22 pop-up marketplaces. The move was inspired by the DBS Foundation Community Pop-Up Market, which was first piloted in September 2023.
ABS aims to help these households over two years with its partners, which include SG Cares Volunteer Centres, the Ministry of Culture, Community and Youth and the National Crime Prevention Council.
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Chairman of ABS Piyush Gupta said: “The ABS Community Giveback Programme was launched in recognition of the critical societal role of banks and the significant responsibilities of the industry towards society... It is (also) a testament to the collaborative spirit cultivated carefully over the years by the banking industry.”
Gupta, also the chief executive officer of DBS, added that the goals are to address the immediate needs of the less privileged, do their part for the environment, and raise digital safety awareness among the public at a time when scams are becoming increasingly sophisticated.
The second pillar of the Community Giveback Programme involves protecting customers against scams.
While banks have introduced security measures such as the money-lock feature which prevents scammers from digitally transferring funds out of customer bank accounts, “the biggest change that will move the needle is greater education and awareness among consumers”, noted Gupta.
ABS is therefore embarking on large-scale anti-scam education campaigns with its partners to ramp up awareness.
Spanning two years, the programme will involve a mascot that will encourage people to develop a “stop and check” habit before clicking on any apps or Web links.
About 6,000 bank staff volunteers and partners will be involved in the initiative. Koh Ching Ching, head of group brand and communications at OCBC, said that it will be part of the bank’s year-long volunteer programme that supports 13 charities.
Anthony Wan, senior vice-president, group strategic communications and brand, UOB, said: “It’s my first time attending an industry-wide volunteering event of this scale. I think it is a very meaningful event where everybody can play their part to give back to the community in some way or other, whether it is time, money, or effort.”
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