Tuesday, January 10, 2012

What has happened to our Safest Bank?

The Safest Bank in Asia for year 2009, 2010 and 2011 had $500,000 worth of unauthorised withdrawals made in Malaysia, with approx. 400 DBS and POSB customers hit!  So, how safe is safest???  This is simply ironical...

It is really shocking to know that despite with anti-skimming devices installed on the ATM machines, 2 ATM machines @ Bugis Street were compromised over a 3 days period in Nov 2011.  Has the security video managed to capture of any illegal installation of skimming devices on the 2 ATM machines which is not really made known yet.  It really freaks me out, wondering if this is an insider's job.

What has become of our once Nation Bank?  Majority of the nation is having our salary credited to saving accounts with these 2 banks and facilitating most GIRO monthly payments service.  What if one day their system got hacked, how much fund will be affected???  Even if I'm not a millionaire with millions of dollars saved in DBS or POSB, I do get worried as every single cent is my hard earned money.  Do not forget almost the whole nation is putting their savings with the 2 banks and many a little makes a mickle, so this is simply no joke.

We certainly need DBS & POSB to beef up their system from fraudulent transactions.  Pls live up to your name!!!

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