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20 Jun 2012, 6.12PM

3 comments & replies |by REACH Administrator (Master) | Learn and Earn

Original thread created on 15 Jun 2012, 3:37PM

In the latest move to prevent scammers, banks are placing shields over the keypads of their ATMs to prevent customers’ identification numbers (PINs) from being easily copied or ‘skimmed’.

Reported by the Straits Times, this initiative follows after a syndicate cheated DBS Bank customers of nearly $1 million by skimming PINS at two ATMs. Banks such as OCBC and DBS are in progress of adding shields to ATMs.

While the inclusion of shields was not one of the measures stipulated by the Association of Banks in Singapore (ABS) after the DBS ATMs skimming incident, ABS did order banks to set up a system by June 1 to alert account holders by SMS if a withdrawal of over a certain amount is made.

The shields may bring the banks up to speed with a recommendation in a recent consultation paper on “Technology Risk Management Guidelines and Notice” issued by the Monetary Authority of Singapore where one of the measures is for financial institutions to 'implement appropriate measures to prevent shoulder surfing of customers' PINs'.

Do you welcome the initiative? What other safety measures are needed to prevent ATMs skimming?

Updated on 20 July 2012

Most banks in Singapore are on track in meeting the June 30 deadline to implement industry-wide measures that aim to increase ATM security. These measures include blocking the use of ATM cards overseas unless instructed by the customer and sending out SMS alerts for withdrawals exceeding the set threshold. Other measures, such as the migration of ATM and ATM-linked debit cards to EMV chip technology, will be adopted by the industry at a later date.

Yesterday, Citibank Singapore also announced additional security features, such as allowing customers to deactivate and reactivate their credit card on the spot and the option to specify a time period to activate overseas ATM and Debit card transactions.

From 1 July, customers may deactivate or reactivate their credit cards utilising several channels such as SMS, online banking, self-service phone banking and at the bank’s branches. For example, Citibank customers who have misplaced their cards but are sure that it has not been stolen, will be able to deactivate it temporarily.

Read more in The Straits Times article “Banks on track to meet deadline for ATM security enhancements” and TODAY article “Citibank unveils new security measures”.

871 views | 3 comments & replies |

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Guest

15 Jun 2012, 4.08PM

Why not Add a thumb scan to it ? ABS have to bring in this technology to SG??

(Newbie)

Michel Cole

15 Jun 2012, 6.10PM

Well that's a good Idea and to do that they don't need to replace the machines. Simply they can have a thumb scanner attached and integrated in the machine :)

(Newbie)

TKC

21 Jun 2012, 10.56AM

thumb scanner idea is good. but who is going to clean it? hundreds of users will be using the machine everyday.

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