Phishing Scam Posing as DBS Causes $29,000 in Losses to at Least Fourteen Victims

The Singapore Police Force (SPF) and DBS Bank have warned against phishing scams impersonating the major bank.

According to the police, since September 21 this year, 14 reports of such scams have been received, with victims losing at least $29,000.

Victims received emails or text messages purportedly from DBS, stating that they have some ugent issues with their bank accounts and need to click on the links attached as soon as possible to resolve problems with their accounts or digital tokens, or to participate in tradings, promotions and apply for membership.

The links in the emails and text messages directd the victims to a phishing website that lured them to fill in their banking credential, bank card details, and one-time passwords.

By the time victims realize they have been scammed, unauthorized transactions on their bank accounts and cards have been made.