219 Victims Lost S$446K In Jan To Scam SMSes, Banks Won’t Send Clickable Links: DBS

219 Victims Lost S$446K To Scam SMS Links In 1st 2 Weeks Of Jan: DBS

The start of the year has been a rather rough one for at least 219 people in Singapore who lost money after clicking on scam SMS links. According to DBS, the victims lost a whopping S$446,000 in total.

In light of the statistics, DBS issued an alert for users to be wary of such fake SMSes.

Most importantly, the bank reminds everyone that banks no longer send users clickable links in emails and text messages.

Victims lose S$446,000 in 2 weeks to scam SMSes

In a Facebook post today (14 Jan), DBS revealed that at least 219 victims have lost S$446,000 to scam SMSes.

Source: DBS on Facebook

These losses occurred in just the first two weeks of the month alone, involving victims clicking on links in unsolicited SMSes.

More specifically, the text messages claim to come from DBS/POSB bank, warning victims of “unauthorised attempts to access their DBS/POSB bank accounts”.

To stop these attempts, the SMS urges users to click on a URL to “verify their identities”.

Source: DBS on Facebook

Victims who did so found themselves on fake DBS websites, where they had to key in their Internet banking credentials and one-time passwords (OTPs).

With this information, scammers were able to withdraw money from their accounts.

Banks will never send clickable links

In light of the surge in such scam cases, DBS reminded customers that banks have stopped sending clickable links in emails and SMSes since 2022.

Therefore, messages containing such URLs should immediately raise alarm bells.

Those who may have clicked on those links and believe that they have fallen victim can call the bank’s fraud hotline at 1800-339-6963 (from Singapore) or (+65) 63396963 (from overseas). They may also activate the Safety Switch to block access to their funds temporarily.

For more tips to protect yourself from recent scams and frauds, visit DBS’ website here.

Also read: Jamus Lim Proposes Scam Victims Should Only Bear S$100 Or S$500 Of Losses

Jamus Lim Proposes Scam Victims Should Only Bear S$100 Or S$500 Of Losses

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Featured image adapted from Frank Vex on Canva and Facebook, for illustration purposes only.

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